Category: Politics

MIL-OSI: Meridian Corporation Reports First Quarter 2025 Results and Announces a Quarterly Dividend of $0.125 per Common Share

Source: GlobeNewswire (MIL-OSI)

MALVERN, Pa., April 25, 2025 (GLOBE NEWSWIRE) — Meridian Corporation (Nasdaq: MRBK) today reported:

	Three Months Ended
(Dollars in thousands, except per share data)((Unaudited)	March 31, 2025		December 31, 2024		March 31, 2024
Income:
Net income	$	2,399	$	5,600	$	2,676
Diluted earnings per common share	$	0.21	$	0.49	$	0.24
Pre-provision net revenue (PPNR) ⁽¹⁾	$	8,357	$	11,167	$	6,419
(1) See Non-GAAP reconciliation in the Appendix

Net income for the quarter ended March 31, 2025 was $2.4 million, or $0.21 per diluted share.
Pre-provision net revenue¹ for the quarter was $8.4 million, up $1.9 million or 30.2% from 1Q 2024.
Net interest margin was 3.46% for the first quarter of 2025, with a loan yield of 7.19%.
Return on average assets and return on average equity for the first quarter of 2025 were 0.40% and 5.57%, respectively.
Total assets at March 31, 2025 were $2.5 billion, compared to $2.4 billion at December 31, 2024 and $2.3 billion at March 31, 2024.
Commercial loans, excluding leases, increased $49.5 million, or 3% for the quarter.
First quarter deposit growth was $123.4 million, or 6%.
Non-interest-bearing deposits were up $82.6 million or 34%, quarter over quarter.
On April 24, 2025, the Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable May 19, 2025 to shareholders of record as of May 12, 2025.

Christopher J. Annas, Chairman and CEO commented:

Meridian’s first quarter 2025 earnings of $2.4 million were slightly below the first quarter 2024 net income of $2.7 million however PPNR was up 30%, reflecting overall healthy growth in our business units and good expense control. Our earnings were negatively affected by higher provisioning resulting mainly from distressed SBA loans, which have been impacted by the dramatic rate rise. The remediation process for SBA loans is lengthy due to procedural requirements, which we follow diligently to assure the government guaranty, but we are making progress. On a positive note, our net interest margin was 3.46% and has shown consistent improvement over the last four quarters.

Loan growth in the first quarter was 12% annualized (minus expected lease paydowns) and all commercial groups contributed. The Delaware Valley region is plagued by a lack of homes for sale, so construction and other residential building is in demand. Our commercial/industrial lending has benefited from disruption in a recent local bank combination, from where we hired a senior lender with a deep list of contacts throughout the region. We expect many opportunities from this individual and his future hires.

Meridian Wealth Partners continued its strong performance with pre-tax income of $726 thousand for the quarter. A slight increase in assets under management combined with overall better fee percentages contributed to the gain. We are poised for better growth in this segment as our expanded loan customer base provides referral business, and with the recent hiring of a senior wealth professional to help focus on other opportunities.

The mortgage group had a larger pre-tax loss in 1Q25 vs 1Q24, mainly due to lower volume and a lesser loan officer count. The first quarter is seasonally weaker, but we are encouraged by the forecast for greater home inventory in both our Delaware Valley and Maryland markets. That has been a much bigger factor for loan originations than mortgage rates.

Our solid growth in PPNR has enabled us to manage the spike in non-performing loans, as we work intensely to remediate these credits. The growth in first quarter loan volume and expansion in net interest margin should continue to help drive further improvement in profitability.

Select Condensed Financial Information

	As of or for the three months ended (Unaudited)
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
	(Dollars in thousands, except per share data)
Income:
Net income	$	2,399		$	5,600		$	4,743		$	3,326		$	2,676
Basic earnings per common share		0.21			0.50			0.43			0.30			0.24
Diluted earnings per common share		0.21			0.49			0.42			0.30			0.24
Net interest income		19,776			19,299			18,242			16,846			16,609

Balance Sheet:
Total assets	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923
Loans, net of fees and costs		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Total deposits		2,128,742			2,005,368			1,978,927			1,915,436			1,900,696
Non-interest bearing deposits		323,485			240,858			237,207			224,040			220,581
Stockholders’ equity		173,266			171,522			167,450			162,382			159,936

Balance Sheet Average Balances:
Total assets	$	2,420,571		$	2,434,270		$	2,373,261		$	2,319,295		$	2,269,047
Total interest earning assets		2,330,224			2,342,651			2,277,523			2,222,177			2,173,212
Loans, net of fees and costs		2,039,676			2,029,739			1,997,574			1,972,740			1,944,187
Total deposits		2,036,208			2,043,505			1,960,145			1,919,954			1,823,523
Non-interest bearing deposits		244,161			259,118			246,310			229,040			233,255
Stockholders’ equity		174,734			171,214			165,309			162,119			159,822

Performance Ratios (Annualized):
Return on average assets		0.40	%		0.92	%		0.80	%		0.58	%		0.47	%
Return on average equity		5.57	%		13.01	%		11.41	%		8.25	%		6.73	%

Income Statement – First Quarter 2025 Compared to Fourth Quarter 2024

First quarter net income decreased $3.2 million, or 57.2%, to $2.4 million due to decreased non-interest income as the prior quarter included a $4.0 million gain on sale of MSR’s and a $317 thousand gain on sale of OREO, partially offset by a $1.0 million charge for early lease termination. The first quarter provision for credit losses increased over the prior quarter by $1.6 million. Net interest income increased $477 thousand and non-interest expenses decreased $2.7 million. Detailed explanations of the major categories of income and expense follow below.

Net Interest income

Interest income decreased $869 thousand quarter-over-quarter on a tax equivalent basis, driven by both two less days in the period as well as a lower level of average earning assets, which decreased by $12.4 million. On a rate basis, the yield on earnings assets increased 2 basis points.

Average total loans, excluding residential loans for sale, increased $10.0 million. The largest drivers of this increase were commercial, commercial real estate, and small business loans which on a combined basis increased $21.2 million on average, partially offset by a decrease in average leases of $10.6 million. Home equity, residential real estate, consumer and other loans held in portfolio decreased on a combined basis $602 thousand on average.

Total interest expense decreased $1.3 million, quarter-over-quarter, also driven by two fewer days in the period and a lower volume of time deposits and borrowings. On a rate basis, all deposit types experienced a decrease in the cost, with the overall cost of deposits dropping 21 basis points. Interest expense on total deposits decreased $1.5 million and interest expense on borrowings decreased $139 thousand. During the period, interest-bearing checking accounts and money market accounts increased $9.9 million and $37.9 million on average, respectively, while time deposits decreased $40.2 million on average. Borrowings decreased $6.7 million on average.

Overall the net interest margin increased 17 basis points to 3.46% as the cost of funds declined and the yield on earning assets increased slightly.

Provision for Credit Losses

The overall provision for credit losses for the first quarter increased $1.6 million to $5.2 million, from $3.6 million in the fourth quarter. The first quarter provision increased due to an increase of $7.1 million in non-performing loans which led to an increase of $2.3 million in specific reserves on such loans. SBA loans make up $6.9 million of these additional non-performing loans, of which $3.8 million are guaranteed by the SBA. The increase in provision was also partially impacted by unfavorable changes in certain macro-economic factors used in the model due to current economic and market uncertainty.

Non-interest income

The following table presents the components of non-interest income for the periods indicated:

	Three Months Ended
(Dollars in thousands)	March 31, 2025			December 31, 2024			$ Change			% Change
Mortgage banking income	$	3,393		$	5,516		$	(2,123	)	(38.5)%
Wealth management income		1,535			1,527			8		0.5	%
SBA loan income		748			1,143			(395	)	(34.6)%
Earnings on investment in life insurance		222			224			(2	)	(0.9)%
Net (loss) gain on sale of MSRs		(52	)		3,992			(4,044	)	(101.3)%
Gain on sale of OREO		—			317			(317	)	(100.0)%
Net change in the fair value of derivative instruments		149			(146	)		295		(202.1)%
Net change in the fair value of loans held-for-sale		102			(163	)		265		(162.6)%
Net change in the fair value of loans held-for-investment		170			(552	)		722		(130.8)%
Net (loss) gain on hedging activity		21			192			(171	)	(89.1)%
Other		1,036			1,229			(193	)	(15.7)%
Total non-interest income	$	7,324		$	13,279		$	(5,955	)	(44.8)%

Total non-interest income decreased $6.0 million, or 44.8%, quarter-over-quarter largely due to recognizing a gain on sale of MSRs of $4.0 million in the prior quarter, combined with a $2.1 million decline in mortgage banking income, and a change in gains of $171 thousand in hedging activity. These declines in income were partially offset by favorable derivative and loan related fair value changes. Mortgage loan sales decreased $68.1 million or 31.5% quarter over quarter driving lower gain on sale income in addition to a lower overall margin, leading to the lower level of mortgage banking income.

SBA loan income decreased $395 thousand due to a lower level of SBA loan sales. SBA loans sold for the quarter-ended March 31, 2025 totaled $12.1 million, down $7.8 million, or 39.1%, compared to the quarter-ended December 31, 2024. The gross margin on SBA sales was 8.7% for the quarter, up from 7.5% for the previous quarter.

Non-interest expense

The following table presents the components of non-interest expense for the periods indicated:

	Three Months Ended
(Dollars in thousands)	March 31, 2025		December 31, 2024		$ Change			% Change
Salaries and employee benefits	$	11,385	$	12,429	$	(1,044	)	(8.4)%
Occupancy and equipment		1,338		2,270		(932	)	(41.1)%
Professional fees		763		1,134		(371	)	(32.7)%
Data processing and software		1,479		1,553		(74	)	(4.8)%
Advertising and promotion		779		839		(60	)	(7.2)%
Pennsylvania bank shares tax		269		243		26		10.7	%
Other		2,730		2,943		(213	)	(7.2)%
Total non-interest expense	$	18,743	$	21,411	$	(2,668	)	(12.5)%

Overall salaries and benefits decreased $1.0 million. Bank and wealth segments combined decreased $245 thousand, while the mortgage segment decreased $799 thousand. Mortgage segment salaries, commissions, and employee benefits expense are impacted by volume and decreased commensurate with the lower levels of originations, which were down $63.5 million from the prior quarter. Occupancy and equipment expense decreased $932 thousand, net, due to fees, credits and other disposal costs for the early termination of the Blue Bell lease that occurred in the prior quarter. Professional fees decreased $371 thousand over the prior period mainly due to the results of cost control efforts on certain internal audit fees, legal fees and consulting fees, while other non-interest expense decreased $213 thousand due to a decline in certain business development costs, other loan related fees, and OREO related expenses.

Balance Sheet – March 31, 2025 Compared to December 31, 2024

Total assets increased $142.7 million, or 6.0%, to $2.5 billion as of March 31, 2025 from $2.4 billion at December 31, 2024. Interest-earning cash increased $91.8 million, or 419.7%, to $113.6 million as of March 31, 2025 from December 31, 2024, as a temporary deposit of $103 million from a long standing customer was on hand for several weeks. In addition, loan growth contributed to the overall increase in total assets over this period.

Portfolio loan growth was $42.0 million, or 2.1% quarter-over-quarter. The portfolio growth was generated from commercial mortgage loans which increased $21.2 million, or 2.6%, construction loans which increased $18.3 million, or 7.1%, small business loans which increased $5.3 million, or 3.4%, and commercial & industrial loans which increased $4.6 million, or 1.3%. Lease financings decreased $9.2 million, or 12.1% from December 31, 2024, partially offsetting the above noted loan growth, but this decline was expected as we continue to refocus away from lease originations.

Total deposits increased $123.4 million, or 6.2% quarter-over-quarter, led by non-interest bearing deposit growth of $82.6 million. Non-interest bearing deposits benefited from a late quarter deposit of $103 million from a long standing customer that sold a business. This deposit was on hand for several weeks. Money market accounts and savings accounts also increased a combined $34.3 million, while interest bearing demand deposits increased $19.6 million, and time deposits decreased $13.1 million from largely wholesale efforts. Overall borrowings increased $15.1 million, or 12.1% quarter-over-quarter.

Total stockholders’ equity increased by $1.7 million from December 31, 2024, to $173.3 million as of March 31, 2025. Changes to equity for the current quarter included net income of $2.4 million, less dividends paid of $1.4 million, offset by a decrease of $529 thousand in other comprehensive income. The Community Bank Leverage Ratio for the Bank was 9.30% at March 31, 2025.

Asset Quality Summary

Non-performing loans increased $7.1 million to $52.2 million at March 31, 2025 compared to $45.1 million at December 31, 2024. Included in non-performing loans are $19.1 million of SBA loans of which $9.9 million, or 53%, are guaranteed by the SBA. The SBA portfolio was subject to the Fed’s rapid rate increase and $15.0 million, or 80% of these non-performing loans originated in 2020-2021 where their rates rose over 500 basis points.

The ratio of non-performing loans to total loans increased 30 bps to 2.49% as of March 31, 2025, from 2.19% as of December 31, 2024. The increase in non-performing loans was led by a $6.9 million increase in non-performing SBA loans, and $881 thousand in leases.

Net charge-offs as a % of total average loans of 0.14% for the quarter ended March 31, 2025, decreased from 0.34% for the quarter ended December 31, 2024. Net charge-offs decreased to $2.8 million for the quarter ended March 31, 2025, compared to net charge-offs of $7.1 million for the quarter ended December 31, 2024. First quarter charge-offs consisted of $851 thousand on a protracted commercial advertising loan relationship, $738 thousand related to construction loans, $553 thousand of small ticket equipment leases which are charged-off after becoming more than 120 days past due, and $277 thousand in SBA loans. Overall there were recoveries of $175 thousand, largely related to leases and SBA loans.

The ratio of allowance for credit losses to total loans held for investment was 1.01% as of March 31, 2025, an increase from the coverage ratio of 0.91% as of December 31, 2024 due largely to the increase in specific reserves on non-performing loans in the quarter discussed above. As of March 31, 2025 there were specific reserves of $5.0 million against individually evaluated loans, an increase of $2.3 million from $2.7 million in specific reserves as of December 31, 2024. The specific reserve increase over the prior quarter was led by a $1.6 million increase in specific reserves on SBA loans, as well as increases of $535 thousand in commercial real estate loan specifics reserves and a $174 thousand increase in commercial loan specific reserves.

About Meridian Corporation

Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland. Through its 17 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC.

“Safe Harbor” Statement

In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.

MERIDIAN CORPORATION AND SUBSIDIARIES FINANCIAL RATIOS (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Earnings and Per Share Data:
Net income	$	2,399		$	5,600		$	4,743		$	3,326		$	2,676
Basic earnings per common share	$	0.21		$	0.50		$	0.43		$	0.30		$	0.24
Diluted earnings per common share	$	0.21		$	0.49		$	0.42		$	0.30		$	0.24
Common shares outstanding		11,285			11,240			11,229			11,191			11,186

Performance Ratios:
Return on average assets ⁽²⁾		0.40	%		0.92	%		0.80	%		0.58	%		0.47	%
Return on average equity ⁽²⁾		5.57			13.01			11.41			8.25			6.73
Net interest margin (tax-equivalent) ⁽²⁾		3.46			3.29			3.20			3.06			3.09
Yield on earning assets (tax-equivalent) ⁽²⁾		6.83			6.81			7.06			6.98			6.90
Cost of funds ⁽²⁾		3.56			3.71			4.05			4.10			4.00
Efficiency ratio		69.16	%		65.72	%		70.67	%		72.89	%		73.90	%

Asset Quality Ratios:
Net charge-offs (recoveries) to average loans		0.14	%		0.34	%		0.11	%		0.20	%		0.12	%
Non-performing loans to total loans		2.49			2.19			2.20			1.84			1.93
Non-performing assets to total assets		2.07			1.90			1.97			1.68			1.74
Allowance for credit losses to:
Total loans and other finance receivables		1.01			0.91			1.09			1.09			1.18
Total loans and other finance receivables (excluding loans at fair value) ⁽¹⁾		1.01			0.91			1.10			1.10			1.19
Non-performing loans		39.90	%		40.86	%		48.66	%		57.66	%		60.59	%

Capital Ratios:
Book value per common share	$	15.35		$	15.26		$	14.91		$	14.51		$	14.30
Tangible book value per common share	$	15.03		$	14.93		$	14.58		$	14.17		$	13.96
Total equity/Total assets		6.85	%		7.19	%		7.01	%		6.91	%		6.98	%
Tangible common equity/Tangible assets – Corporation ⁽¹⁾		6.72			7.05			6.87			6.76			6.82
Tangible common equity/Tangible assets – Bank ⁽¹⁾		8.61			9.06			8.95			8.85			8.93
Tier 1 leverage ratio – Bank		9.30			9.21			9.32			9.33			9.42
Common tier 1 risk-based capital ratio – Bank		10.15			10.33			10.17			9.84			9.87
Tier 1 risk-based capital ratio – Bank		10.15			10.33			10.17			9.84			9.87
Total risk-based capital ratio – Bank		11.14	%		11.20	%		11.22	%		10.84	%		10.95	%
(1) See Non-GAAP reconciliation in the Appendix
(2) Annualized

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025			December 31, 2024			March 31, 2024
Interest income:
Loans and other finance receivables, including fees	$	36,549		$	37,229		$	35,339
Securities – taxable		1,693			1,684			1,251
Securities – tax-exempt		313			314			325
Cash and cash equivalents		613			801			300
Total interest income		39,168			40,028			37,215
Interest expense:
Deposits		16,868			18,341			17,392
Borrowings and subordinated debentures		2,524			2,388			3,214
Total interest expense		19,392			20,729			20,606
Net interest income		19,776			19,299			16,609
Provision for credit losses		5,212			3,572			2,866
Net interest income after provision for credit losses		14,564			15,727			13,743
Non-interest income:
Mortgage banking income		3,393			5,516			3,634
Wealth management income		1,535			1,527			1,317
SBA loan income		748			1,143			986
Earnings on investment in life insurance		222			224			207
Net (loss) gain on sale of MSRs		(52	)		3,992			—
Gain on sale of OREO		—			317			—
Net change in the fair value of derivative instruments		149			(146	)		75
Net change in the fair value of loans held-for-sale		102			(163	)		(2	)
Net change in the fair value of loans held-for-investment		170			(552	)		(175	)
Net (loss) gain on hedging activity		21			192			(19	)
Other		1,036			1,229			1,961
Total non-interest income		7,324			13,279			7,984
Non-interest expense:
Salaries and employee benefits		11,385			12,429			10,573
Occupancy and equipment		1,338			2,270			1,233
Professional fees		763			1,134			1,498
Data processing and software		1,479			1,553			1,532
Advertising and promotion		779			839			748
Pennsylvania bank shares tax		269			243			274
Other		2,730			2,943			2,316
Total non-interest expense		18,743			21,411			18,174
Income before income taxes		3,145			7,595			3,553
Income tax expense		746			1,995			877
Net income	$	2,399		$	5,600		$	2,676

Basic earnings per common share	$	0.21		$	0.50		$	0.24
Diluted earnings per common share	$	0.21		$	0.49		$	0.24

Basic weighted average shares outstanding		11,205			11,158			11,088
Diluted weighted average shares outstanding		11,446			11,375			11,201

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Assets:
Cash and due from banks	$	16,976		$	5,598		$	12,542		$	8,457		$	8,935
Interest-bearing deposits at other banks		113,620			21,864			19,805			15,601			14,092
Federal funds sold		629			—			—			—			—
Cash and cash equivalents		131,225			27,462			32,347			24,058			23,027
Securities available-for-sale, at fair value		185,221			174,304			171,568			159,141			150,996
Securities held-to-maturity, at amortized cost		32,720			33,771			33,833			35,089			35,157
Equity investments		2,126			2,086			2,166			2,088			2,092
Mortgage loans held for sale, at fair value		28,047			32,413			46,602			54,278			29,124
Loans and other finance receivables, net of fees and costs		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Allowance for credit losses		(20,827	)		(18,438	)		(21,965	)		(21,703	)		(23,171	)
Loans and other finance receivables, net of the allowance for credit losses		2,050,848			2,011,999			1,986,431			1,966,832			1,933,144
Restricted investment in bank stock		8,369			7,753			8,542			10,044			8,560
Bank premises and equipment, net		12,028			12,151			12,807			13,114			13,451
Bank owned life insurance		29,935			29,712			29,489			29,267			29,051
Accrued interest receivable		10,345			9,958			10,012			9,973			9,864
Other real estate owned		159			159			1,862			1,862			1,703
Deferred income taxes		5,136			4,669			3,537			3,950			4,339
Servicing assets		4,284			4,382			4,364			11,341			11,573
Servicing assets held for sale		—			—			6,609			—			—
Goodwill		899			899			899			899			899
Intangible assets		2,716			2,767			2,818			2,869			2,920
Other assets		24,528			31,382			33,835			26,779			37,023
Total assets	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923

Liabilities:
Deposits:
Non-interest bearing	$	323,485		$	240,858		$	237,207		$	224,040		$	220,581
Interest bearing
Interest checking		161,055			141,439			133,429			130,062			121,204
Money market and savings deposits		947,795			913,536			822,837			787,479			797,525
Time deposits		696,407			709,535			785,454			773,855			761,386
Total interest-bearing deposits		1,805,257			1,764,510			1,741,720			1,691,396			1,680,115
Total deposits		2,128,742			2,005,368			1,978,927			1,915,436			1,900,696
Borrowings		139,590			124,471			144,880			187,260			145,803
Subordinated debentures		49,761			49,743			49,928			49,897			49,867
Accrued interest payable		7,404			6,860			7,017			7,709			8,350
Other liabilities		29,823			27,903			39,519			28,900			28,271
Total liabilities		2,355,320			2,214,345			2,220,271			2,189,202			2,132,987

Stockholders’ equity:
Common stock		13,288			13,243			13,232			13,194			13,189
Surplus		81,724			81,545			81,002			80,639			80,487
Treasury stock		(26,079	)		(26,079	)		(26,079	)		(26,079	)		(26,079	)
Unearned common stock held by employee stock ownership plan		(1,006	)		(1,006	)		(1,204	)		(1,204	)		(1,204	)
Retained earnings		112,952			111,961			107,765			104,420			102,492
Accumulated other comprehensive loss		(7,613	)		(8,142	)		(7,266	)		(8,588	)		(8,949	)
Total stockholders’ equity		173,266			171,522			167,450			162,382			159,936
Total liabilities and stockholders’ equity	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Interest income	$	39,168	$	40,028	$	40,319	$	38,465	$	37,215
Interest expense		19,392		20,729		22,077		21,619		20,606
Net interest income		19,776		19,299		18,242		16,846		16,609
Provision for credit losses		5,212		3,572		2,282		2,680		2,866
Non-interest income		7,324		13,279		10,831		9,244		7,984
Non-interest expense		18,743		21,411		20,546		19,018		18,174
Income before income tax expense		3,145		7,595		6,245		4,392		3,553
Income tax expense		746		1,995		1,502		1,066		877
Net Income	$	2,399	$	5,600	$	4,743	$	3,326	$	2,676

Basic weighted average shares outstanding		11,205		11,158		11,110		11,096		11,088
Basic earnings per common share	$	0.21	$	0.50	$	0.43	$	0.30	$	0.24

Diluted weighted average shares outstanding		11,446		11,375		11,234		11,150		11,201
Diluted earnings per common share	$	0.21	$	0.49	$	0.42	$	0.30	$	0.24

	Segment Information
	Three Months Ended March 31, 2025												Three Months Ended March 31, 2024
(dollars in thousands)	Bank			Wealth			Mortgage			Total			Bank			Wealth			Mortgage			Total
Net interest income	$	19,706		$	9		$	61		$	19,776		$	16,592		$	(6	)	$	23		$	16,609
Provision for credit losses		5,212			—			—			5,212			2,866			—			—			2,866
Net interest income after provision		14,494			9			61			14,564			13,726			(6	)		23			13,743
Non-interest income		1,912			1,535			3,877			7,324			1,874			1,317			4,793			7,984
Non-interest expense		12,758			818			5,167			18,743			12,060			833			5,281			18,174
Income (loss) before income taxes	$	3,648		$	726		$	(1,229	)	$	3,145		$	3,540		$	478		$	(465	)	$	3,553
Efficiency ratio		59	%		53	%		131	%		69	%		65	%		64	%		110	%		74	%

MERIDIAN CORPORATION AND SUBSIDIARIES
APPENDIX: NON-GAAP MEASURES (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)

Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

	Pre-provision Net Revenue Reconciliation
	Three Months Ended
(Dollars in thousands, except per share data, Unaudited)	March 31, 2025		December 31, 2024		March 31, 2024
Income before income tax expense	$	3,145	$	7,595	$	3,553
Provision for credit losses		5,212		3,572		2,866
Pre-provision net revenue	$	8,357	$	11,167	$	6,419

	Pre-Provision Net Revenue Reconciliation
	Three Months Ended
(Dollars in thousands, except per share data, Unaudited)	March 31, 2025			December 31, 2024		March 31, 2024
Bank	$	8,860		$	8,205	$	6,406
Wealth		726			571		478
Mortgage		(1,229	)		2,391		(465	)
Pre-provision net revenue	$	8,357		$	11,167	$	6,419

	Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding and Loans at Fair Value
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Allowance for credit losses (GAAP)	$	20,827		$	18,438		$	21,965		$	21,703		$	23,171

Loans and other finance receivables (GAAP)		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Less: Loans at fair value		(14,182	)		(14,501	)		(13,965	)		(12,900	)		(13,139	)
Loans and other finance receivables, excluding loans at fair value (non-GAAP)	$	2,057,493		$	2,015,936		$	1,994,431		$	1,975,635		$	1,943,176

ACL to loans and other finance receivables (GAAP)		1.01	%		0.91	%		1.09	%		1.09	%		1.18	%
ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP)		1.01	%		0.91	%		1.10	%		1.10	%		1.19	%

	Tangible Common Equity Ratio Reconciliation – Corporation
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Total stockholders’ equity (GAAP)	$	173,266		$	171,522		$	167,450		$	162,382		$	159,936
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible common equity (non-GAAP)		169,651			167,856			163,733			158,614			156,117

Total assets (GAAP)		2,528,586			2,385,867			2,387,721			2,351,584			2,292,923
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible assets (non-GAAP)	$	2,524,971		$	2,382,201		$	2,384,004		$	2,347,816		$	2,289,104
Tangible common equity to tangible assets ratio – Corporation (non-GAAP)		6.72	%		7.05	%		6.87	%		6.76	%		6.82	%

	Tangible Common Equity Ratio Reconciliation – Bank
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Total stockholders’ equity (GAAP)	$	220,768		$	219,119		$	217,028		$	211,308		$	208,319
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible common equity (non-GAAP)		217,153			215,453			213,311			207,540			204,500

Total assets (GAAP)		2,525,029			2,382,014			2,385,994			2,349,600			2,292,894
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible assets (non-GAAP)	$	2,521,414		$	2,378,348		$	2,382,277		$	2,345,832		$	2,289,075
Tangible common equity to tangible assets ratio – Bank (non-GAAP)		8.61	%		9.06	%		8.95	%		8.85	%		8.93	%

	Tangible Book Value Reconciliation
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Book value per common share	$	15.35		$	15.26		$	14.91		$	14.51		$	14.30
Less: Impact of goodwill /intangible assets		0.32			0.33			0.33			0.34			0.34
Tangible book value per common share	$	15.03		$	14.93		$	14.58		$	14.17		$	13.96

The MIL Network –

April 26, 2025

MIL-OSI Global: India and Pakistan tension escalates with suspension of historic water treaty

Source: The Conversation – UK – By Daniel Haines, Associate Professor in the History of Risk and Disaster, UCL

India has taken the highly significant step of suspending the 1960 Indus waters treaty, which governs water sharing with Pakistan, as part of its response to the April 22 terrorist attack in Kashmir that killed at least 26 people.

India’s foreign secretary, Vikram Misri, said that “the Indus Waters Treaty of 1960 will be held in abeyance with immediate effect, until Pakistan credibly and irrevocably abjures its support for cross-border terrorism”.

India holds Pakistan responsible for the attack, and has responded by putting in place several other measures including telling Pakistani nationals to leave the country.

The attack happened in Pahalgam in the part of Kashmir controlled by India. Both India and Pakistan claim the region, which has been the site of several military conflicts since 1947 and a long-running insurgency since the 1990s.

The thorny question of shared rivers — a legacy of the partition of India and Pakistan at independence from British rule in 1947 — is now entangled with the larger, and escalating, dispute between the counties.

A formal letter from India’s water resources ministry cited both “sustained cross border terrorism by Pakistan” and Pakistan’s refusal to renegotiate the terms of the treaty as key reasons for its suspension.

The treaty suspension could harm Pakistani agriculture in the short term, and seriously disrupt downstream irrigation water supplies to farmers. Significantly, the decision abruptly changes the treaty’s status from an agreement that has been largely (if not fully) insulated from the decades-long conflict between India and Pakistan.

The 1960 treaty splits the management of the transnational Indus River basin between the two countries. India gained full rights over the Ravi, Beas and Sutlej, three tributaries of the Indus River known collectively as the eastern rivers. Pakistan gained most of the rights over three western rivers – the Indus main stem and two more tributaries, the Jhelum and Chenab.

Depoliticising water, and building towards peace in Kashmir, were two starting points for the eight years of World Bank-sponsored negotiations that produced the treaty. The treaty’s success has been to make water sharing a bureaucratic process and reducing the political heat.

Reporting on attacks on tourists in Kashmir.

More recently, growing disagreement has stemmed from India’s right to build some hydropower plants on the western rivers. Pakistan has objected to Indian project designs, arguing that they breach the terms of the treaty. India has accused Pakistan of intransigence in blocking its projects.

Since 2023, when India demanded amendments to the treaty, the two countries have held inconclusive talks. The suspension of the treaty is a new move, but also a logical development of increasing bilateral tensions over the treaty, which was kept separate from security issues for decades.

Indian politicians threatened to reduce water supplies to Pakistan in response to terrorist attacks in 2016 and 2019. The threat to punish Pakistan is likely to play well in India while public shock and anger over the attack is fresh. It also distracts attention from questions about possible Indian intelligence failures.

But previous threats stopped short of putting the Indus waters treaty into abeyance, so the suspension now needs to be taken seriously.

The impact will vary depending on how long it lasts. With the treaty suspended, India could change the way it operates existing water-control infrastructure on the western rivers.

Its engineers could flush sediment out of the reservoir of the upstream Kishenganga hydroelectric project and then refill the reservoir over a period of days. Previously, under the treaty, this could only be done during the peak monsoon period when water levels are highest.

It could now happen earlier, refilling reservoirs just when downstream farmers in Pakistan, who depend heavily on river water for irrigation, need a plentiful supply at the beginning of the crop-sowing season. India could also stop sharing water-flow data with Pakistan, making it harder for the latter to plan the management of its own hydropower and flood-control infrastructure.

Longer term, India could construct bigger projects on the western rivers that do not need to comply with the Indus waters treaty’s restrictions, more seriously reducing water availability in Pakistan. It would take years, though, for India to build these projects.

What does India hope to gain?

India stands to gain from using the treaty as leverage. The demand that Pakistan “abjure its support for cross-border terrorism” holds the resumption of water cooperation hostage to progress on a wider point of bilateral conflict, and strengthens India’s hand in renegotiating the treaty.

Internationally, treaty suspension may seem a comparatively measured response by India. Other forms of signalling displeasure, such as nuclear posturing, are too reputationally risky for a country that has worked hard to project itself as a responsible nuclear-armed state.

But Indian leaders will be aware that stopping the flow of the Indus waters is a potential red line for Pakistan and that Indian decisions about water sharing could goad Pakistan into nuclear threats.

India’s decision to suspend the water treaty has already predictably pushed Pakistan to make a subtle nuclear threat on April 24. It suggested that blocking or diverting water allocated to Pakistan under the treaty would be an “act of war,” and that it would consider the “complete spectrum of national power” as a response.

An escalation of rhetoric has already ensued between the two countries, with Pakistan announcing that it would “exercise the right to hold all bilateral agreements with India… in abeyance”, including the Simla agreement that ended the 1971 war between India and Pakistan.

Fears of escalation

There are fears that the current crisis could follow the path of the dangerous escalation seen in 2019, when Indian prime minister, Narendra Modi, authorised an airstrike on Pakistani soil following a terror attack that killed dozens of Indian security personnel. Pakistan responded with airstrikes on Indian-administered Kashmir before both sides found a way to deescalate the situation.

Today, the US, a traditional mediator between these two nations at crisis moments, may play a hands-off role. However, new facilitators such as China, Saudi Arabia and the UAE seemingly played a part in winding down tensions in 2019, and could step in again.

On concluding the Indus waters negotiations in 1960, then Indian prime minister, Jawaharlal Nehru, spoke of the treaty as “a happy symbol not only in this domain of the use of the Indus valley waters, but in the larger co-operation between the two countries”. The logic is now reversed. The current Indian government has woven water sharing and conflict back together.

Daniel Haines has received funding from United Kingdom Research and Innovation (UKRI) for his work on South Asian history and water politics via a British Academy Postdoctoral Fellowship and an AHRC-ESRC-FCO Knowledge Exchange Fellowship.

Kate Sullivan de Estrada does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. India and Pakistan tension escalates with suspension of historic water treaty – https://theconversation.com/india-and-pakistan-tension-escalates-with-suspension-of-historic-water-treaty-255331

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI Global: Jordan joins regional push to sideline Islamist opposition

Source: The Conversation – UK – By Rory McCarthy, Associate Professor in Politics and Islam, Durham University

The Jordanian authorities have banned the Muslim Brotherhood, the largest opposition movement in the kingdom, in a major new crackdown. On Wednesday April 23, security forces raided Brotherhood offices, confiscating assets and property, and outlawed all of the group’s activities.

One week earlier, 16 Brotherhood members were arrested for allegedly plotting attacks on targets inside Jordan using rockets and drones. The Brotherhood, whose members Jordanian interior minister Mazen al-Faraya says “operate in the shadows and engage in activities that could undermine stability and security”, has denied any links to the attack plots.

The ban on the Brotherhood, an Islamist movement that wants a greater role for religion in public life, comes at a time when the Jordanian government is facing intense pressure over the war in Gaza.

The Brotherhood organised months of demonstrations in solidarity with Palestinians. It has also been vocal in its support for the Palestinian armed group Hamas, and has demanded the cancellation of Jordan’s peace treaty with Israel.

At the same time, Jordan’s King Abdullah II has come under heavy pressure from the Donald Trump administration in the US to resettle Palestinians from the occupied Gaza Strip and West Bank. If he were to agree, the move would risk being seen as a betrayal of the Palestinian cause.

The Jordanian authorities have had an uneasy relationship with the Brotherhood since the late 1980s, when the kingdom’s political system opened up. They have looked to curb its influence.

In 2016, the Brotherhood’s headquarters in the capital, Amman, was closed and its assets were transferred to a new organisation called the Association of the Society of the Muslim Brotherhood, known as the “permitted” Muslim Brotherhood. As ideological splits emerged in the movement, the authorities have tried to exploit internal divisions.

The latest crackdown represents a striking repressive turn. It marks a shift away from containing the movement to excluding it from public life.

Yet the Brotherhood remains popular. In September 2024, the Islamic Action Front, the political party affiliated with the movement, surprised observers by winning parliamentary elections. It took 31 seats in the 138-seat parliament, securing victory in constituencies across the country in its best election performance in more than three decades.

Its success was largely down to the Brotherhood’s demonstrations in support of Palestinians. These demonstrations resonated in Jordan, where around half the population is of Palestinian origin. The party also benefited from changes in the electoral laws prior to the election, which gave more weight to political parties and less to independent candidates.

But under Jordan’s authoritarian system, the king holds most of the power, especially in internal security and foreign affairs. The palace tightly controls political life. So the Islamic Action Front was not invited to join the new government, which is made up of pro-monarchy parties.

The key question now is whether the authorities will also ban the Islamic Action Front, despite its electoral gains.

Conflict with the crown

Even before the latest crackdown, Islamists in Jordan feared a confrontation with the authorities. Many suspected the palace wanted to close the Brotherhood movement and leave a weakened party that might be more easily contained.

During a visit to Jordan shortly after the elections in September, one senior Islamic Action Front figure told me: “They [the monarchy] just want a party in a superficial form. A party without any presence.”

Although the Brotherhood had been under pressure, it was still able to operate most of its activities. Senior party members even took part in a royal committee on “political modernisation” in 2021, which drew up reforms to change the electoral laws to strengthen political parties.

Yet many in the Brotherhood feared a confrontation with the palace was coming. One senior Brotherhood figure told me in October 2024: “The Brotherhood is a vast, widespread organisation with a social and a political presence. A clash between the state and the Brotherhood would have negative effects on society and on the legitimacy of the political system.”

Jordan’s Brotherhood is not alone in facing a crisis. Other Islamist organisations across the region are experiencing political setbacks, more than a decade after the 2011 Arab Spring uprisings seemed to offer them new opportunities.

In Tunisia, where a democratic transition has been sharply reversed since 2021, dozens of leaders from the Islamist Ennahda party have been jailed.

The arrests were part of a broad wave of repression against regime critics, including politicians, judges, lawyers and human rights activists. Ennahda, which spent a decade in government between 2011 and 2021, has suffered internal splits.

In Morocco, the Justice and Development party, an Islamist party which also spent a decade in government from 2011, suffered a heavy defeat in the most recent elections in 2021.

The party’s losses were partly a result of restrictions at the time of the vote. These included new rules about how seats were apportioned and the fact that some party candidates were disqualified from running.

But the losses were also because of internal disputes after Prime Minister Saadeddine Othmani signed a normalisation agreement with Israel in 2020 to avoid a confrontation with the monarchy, which controls foreign affairs.

In Kuwait, parliament was suspended in 2024 because the ruling emir, Sheikh Meshal al-Ahmad al-Sabah, complained about political gridlock. This kept all opposition parties, including Islamists, out of the political process. And in Algeria, Islamist parties have been co-opted or marginalised since the bitter civil war of the 1990s.

Opinion polls show that many people in the Middle East want to see a significant role for religion in public life. But rulers across the region are increasingly wary of Islamist parties, which want not only to introduce a more conservative social agenda but to challenge undemocratic regimes.

Rory McCarthy receives funding for his academic research from the British Academy and the Leverhulme Trust.

– ref. Jordan joins regional push to sideline Islamist opposition – https://theconversation.com/jordan-joins-regional-push-to-sideline-islamist-opposition-255243

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI Global: How Project 2025 became the blueprint for Donald Trump’s second term

Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in US politics and international security, University of Portsmouth

Throughout the 2024 presidential election campaign, Donald Trump denied claims he intended to shape his second administration’s policies around Project 2025, the Heritage Foundation’s blueprint for a renewed conservative America. But despite his repeated denials, Trump 2.0 has adopted much of Project 2025 into the White House’s agenda.

The Heritage Foundation, the right-wing Washington think tank which published Project 2025, has provided policy guidance for Republican presidents since the Reagan administration. Despite the foundation’s longevity, Project 2025 has met with opposition from many quarters.

The 900-page publication, Mandate for Leadership: the Conservative Promise, was published in 2023. It went largely under the radar until Democrats and civil liberty champions established Stop Project 2025 during the presidential campaign. Essentially, Project 2025 consists of policy recommendations for each department of the executive branch.

The project has several broad objectives. It aims to reassert presidential power by removing federal agencies’ independence and appointing political loyalists rather than career civil servants. It sets out to dismantle the administrative state by cancelling initiatives and projects that do not match conservative aims.

It reinforces traditional conservative family values and rolls back on LGBTQ+ and reproductive rights. It removes regulatory constraints aligned with climate and environmental protections and weakens consumer protection laws. And it calls for increased deportations of illegal aliens and the imposition of harsh immigration restrictions.

Even before he had taken office, Trump and his team sought to replace career-long specialists in federal agencies with those that matched his own beliefs. His transition team used Project 2025 to guide its appointment of officials for the forthcoming administration. Reports quoting insiders within Trump’s team say that the team consulted a database of Trump loyalists created by the Heritage Foundation to fill vacancies.

Contributors to Project 2025 were also appointed to key roles. These have included including border tsar, Tom Homan, and CIA director John Ratcliffe. Brendan Carr, the Trump-appointed chairman of the Federal Communications Committee, wrote a chapter of Project 2025 on the committee.

The principal author of Project 2025, Russ Vought, has been appointed as director of the Office of Management and Budget (OMB) – the nerve centre of the federal government’s expenditure. Vought’s influence within the administration has led one journalist to call him “the real mastermind behind Trump’s imperial presidency”.

How is Donald Trump’s presidency shaping up after 100 days? Here’s what the experts think. If you like what you see, sign up to receive our weekly World Affairs Briefing newsletter.

The alignment of Trump’s policy decisions and Project 2025’s objectives continued after he was inaugurated on January 20. The raft of executive orders issued by Trump during the first few weeks reflected many of Project 2025’s ambitions.

CNN analysed the 53 executive orders signed by Trump in his first week as president and concluded that 36 of those orders mirrored proposals within the Heritage Foundation’s brief. The alignment spread across numerous departments.

Trump’s controversial reciprocal tariffs on US imported goods match Project 2025’s desire for free trade and its belief that the World Trade Organization’s most favoured nation principle is unfair. Although both Trump tariffs and Project 2025 have a foundation in economic nationalism, Trump has favoured a broad and aggressive approach compared to Project 2025’s more targeted aims.

The savings to federal expenditure proposed by Doge, the unofficial Department of Government Efficiency led by Elon Musk, are also broadly covered within the paper. A theme running throughout Project 2025 is ensuring value for taxpayers by reducing unnecessary government expenditure.

But while a large amount of Project 2025 has already been incorporated into the administration’s policies, there is still a significant number of recommendations and initiatives that remain to be implemented.

What’s still to come?

While Trump has already ended the use of federal taxpayer dollars to fund or promote elective abortion through Executive Order 14182, Project 2025 calls for stronger initiatives to support a pro-life position by threatening to withhold funding to states if they fail to adhere to new guidelines. These penalties could be incurred through states failing to report to the Center for Disease and Control Prevention (CDC) data on how many abortions take place within the state, for example.

The administration has also not yet matched Project 2025’s calls for increasing the defence budget to 5% of GDP. Earlier this month, however, Trump and his defense secretary, Pete Hegseth, promised that their next budget proposal would include a $1 trillion defence budget. Hegseth posted on X that the money would be spent on ‘lethality and readiness.’

Trump’s recent criticisms of the refusal by Federal Reserve chair, Jerome Powell, to lower interest rates might suggest that he agrees with Project 2025’s criticism of the Federal Reserve and its recommendation that it be abolished. But the market’s negative reaction to Trump’s attack on Powell looks likely to end any prospect of eradicating the Fed.

Perhaps a greater concern to Americans is Project 2025’s designs for social security. As part of the focus on fiscal stability, the authors of Project 2025 have recommended that the retirement age be increased from 67 to 69. Social security reforms have been discussed by the administration but yet to be put into place.

When questioned, Republican legislators have stopped short of telling constituents that Social Security is safe from change. After all, Trump maintained that he has no plans to either reduce social security payments or increase the retirement age.

However, just this week, Trump and Doge have announced cuts to the Social Security Administration (SSA), the body that administers payments. This has led to concerns for the former SSA director, Martin O’Malley, who suggested that the cuts would mean that future payments of vital benefits might be delayed.

Where the administration turns next is unclear. There are hundreds of policy recommendations within the 900-page document, some of which have been implemented in full, others only in part.

Nonetheless, Project 2025 has acted as a blueprint for much of the new Trump administration’s policies, even though the White House has shown some reluctance to incorporate all of the recommendations within the project.

There are signs, however, that the administration has not yet finished with Project 2025 and that the conservative wishlist continues to influence the administration’s policymaking decisions.

Dafydd Townley does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. How Project 2025 became the blueprint for Donald Trump’s second term – https://theconversation.com/how-project-2025-became-the-blueprint-for-donald-trumps-second-term-255149

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI USA: McClellan Announces 2025 Women of Excellence Award Winners

Source: United States House of Representatives – Congresswoman Jennifer McClellan (Virginia 4th District)

Washington, D.C. –Today, Congresswoman Jennifer McClellan (VA-04) announced the winners of the Second Annual Women of Excellence Awards. The awards recognize outstanding women or women’s organizations residing, studying, working, or serving Virginia’s Fourth District that have made a profound impact on the district and have meaningfully contributed to their communities.

“I am excited to recognize the work these incredible women have done to make Virginia’s Fourth District a better place,” said Congresswoman McClellan. “Women shaped our Commonwealth — and our nation — from the beginning, even when they have gone unseen and unnoticed. This year’s award recipients uplift our communities every day. They inspire me and remind us all that women can achieve.”

Businesswoman of the Year – Monica Mueller

Monica Mueller is Chief Strategy Officer of Softensity, a leading provider of software development and IT consulting services. As Softensity’s EVP, she spent five years transforming multiple departments, leveraging technology to streamline operations and improve performance.

Non-Profit of the Year – Little Hands VA

Little Hands Virginia’s mission is to ensure children in Central Virginia have essentials from birth to improve outcomes for life. They support families by providing items, like diapers, pack n’ plays for safe sleep, and strollers, to children newborn to three years old in need in Central Virginia.

The Women of Impact in Education Award – Kayla Diaz

Kayla Diaz is a Spanish-language interpreter for Colonial Heights Public Schools. While serving as a family resource coordinator at Colonial Heights Public Schools, she successfully advocated for the creation of a dedicated interpreter position translating conversations between school staff and families with developing English skills.

Women in Action Volunteer Award – Fatima Smith

Fatima M. Smith is the founder of FMS Speaks, LLC, a platform through which she facilitates crucial conversations within institutions, government, and educational settings. She has committed herself to interpersonal violence prevention, child advocacy and more.

The Dr. Gladys West Women in STEM Award – Pamela Bingham

Pamela R. Bingham is a “social impact” environmental engineer and currently the Operations Manager for The Health, Environmental, and Economic Justice Lab in the University of Maryland School of Public Health.

Law and Government Champion Award – Gray Montrose

Gray Montrose is currently the Deputy Director of Land Conservation with the Capital Region Land Conservancy, a nonprofit land trust currently stewarding over fifteen thousand acres of priority forest, farm, and park land in central Virginia. Her role involves providing legal counsel to the organization and providing critical support to the development of new projects.

Media and Communications Champion Award – Claudia Massey

Claudia R. Massey is the co-founder of Patience for Patients, LLC, a non-medical homecare agency that provides personal care and companionship services to the geriatric population. She is a columnist for Diva Dynasty Magazine, a best-selling author, a radio host, and a TV host at Preach the Word Worldwide Network where she serves as their brand ambassador.

MIL OSI USA News –

April 26, 2025
MIL-OSI USA: Bilirakis, Tonko, Crenshaw, Khanna, Peters and Liccardo Celebrate Re-launch of Longevity Science Caucus

Source: United States House of Representatives – Representative Gus Bilirakis (FL-12)

Washington, D.C. – Representatives Gus Bilirakis (R-FL), Congressman Paul Tonko (D-NY), Dan Crenshaw (R-TX), Ro Khanna (D-PA), Scott Peters (D-CA) and Sam Liccardo (D-CA) are proud to announce the re-launch of the Congressional Caucus for Longevity Science. The Longevity Science Caucus aims to educate Members about the growing field of aging and longevity biotechnology, and to promote initiatives aimed at increasing the healthy average lifespan of all Americans. As the population continues to age, proactive investment can significantly reduce the long-term economic and healthcare burdens on society. By investing in research that delays aging and prevents chronic diseases, the government can promote healthier citizens, lower healthcare costs, and extend the productive years of life. Supporting longevity science is a forward-thinking strategy that benefits both individuals and the broader economy.

Congressman Bilirakis serves as a senior Member on the House Energy and Commerce Committee and is a Co-Chair of this Caucus along with Representative Tonko. Bilirakis noted, “Increasing life expectancy and promoting positive health outcomes are important priorities, and the formation of this caucus is an important step toward achieving those goals. I believe in promoting individual responsibility and supporting innovation in the pursuit of scientific discoveries that will enable Americans to live happier and longer lives. I am honored to co-chair this bipartisan effort with my colleague, Congressman Tonko. We will work with our colleagues in an effort to make a significant impact on the future health and wellness for our constituents.”

Tonko, who is also a member of the House Energy and Commerce Committee, added, “With life expectancy in the United States at its lowest in decades, we in Congress need to come together to address this decline and support science and research that will enable people to live fuller and healthier lives. We’re doing just that with the Longevity Caucus. I am grateful for the partnership of Congressman Bilirakis in leading this Caucus and look forward to working in strong bipartisan fashion to help improve our quality and longevity of life, particularly in the fight against neurodegenerative diseases with aging as the greatest risk factor.”

MIL OSI USA News –

April 26, 2025
MIL-OSI USA: NCDIT Announces Artificial Intelligence Governance and Policy Leader

Source: US State of North Carolina

Headline: NCDIT Announces Artificial Intelligence Governance and Policy Leader

NCDIT Announces Artificial Intelligence Governance and Policy Leader
aljohnson
Fri, 04/25/2025 – 12:42

The N.C. Department of Information Technology (NCDIT) has named I-Sah Hsieh as its first artificial intelligence governance and policy executive. Hsieh will advance North Carolina’s use of artificial intelligence (AI) to help the state become more efficient and effective while also maintaining digital safety.

“I-Sah’s appointment marks a significant step forward in North Carolina’s commitment to harnessing the power of AI for the benefit and protection of our residents, businesses, and visitors,” said NCDIT Secretary and State Chief Information Officer Teena Piccione. “By overseeing governance structures that prioritize ethics and security, I-Sah will play a pivotal role in shaping how the state uses this technology and collaborating with the General Assembly, private industry, and government users to ensure we are able to innovate and grow with AI while protecting our residents’ data and privacy.”

As an AI governance and ethics expert with more than 25 years of experience, Hsieh joins NCDIT from SAS where he most recently served as the company’s AI governance and data ethics practice principal. Previously, he has helped develop AI strategies and solutions as a consultant for policymakers, the United Nations, Fortune 1000 executives, and nonprofits. He holds a Bachelor of Science in mechanical engineering from Cornell University.

Last year, NCDIT led development of the North Carolina Responsible Use of Artificial Intelligence Framework. The framework, in alignment with existing state privacy laws and IT policies, highlights principles, practices, and guidance to provide a consistent approach for state agencies to innovate while ensuring privacy and limiting data protection risks. Hsieh’s hiring is part of NCDIT’s initiative to promote responsible use of AI in North Carolina.

To help state employees navigate the potential use of generative AI, NCDIT has posted guidance, training and other resources on its website. The department is also developing comprehensive training for state employees.

For more information and resources regarding the state’s use of AI, visit it.nc.gov/AI.

Apr 25, 2025

MIL OSI USA News –

April 26, 2025
MIL-OSI Security: Lame Deer man sentenced to 2 years in prison for trafficking methamphetamine on the Northern Cheyenne Indian Reservation

Source: Office of United States Attorneys

BILLINGS – A Lame Deer man who distributed methamphetamine on the Northern Cheyenne Indian Reservation was sentenced today to 24 months in prison to be followed by 6 years of supervised release, U.S. Attorney Kurt Alme said.

Shannon Tyrone Seminole, 50, pleaded guilty in October 2024 to one count of possession with intent to distribute methamphetamine.

U.S. District Judge Susan Watters presided.

The government alleged in court documents that in the spring of 2022, law enforcement received reports that Shannon Seminole was selling methamphetamine on the Northern Cheyenne Indian Reservation. Agents arranged two controlled purchases from Seminole, one in December 2022 and the other in September 2023. Following the second buy, agents executed a search of Seminole’s residence. During the search, agents seized an airsoft pistol and an AR-15 upper receiver and bolt.

In an interview, Seminole admitted to providing methamphetamine to the many drug users that helped him with his work. He admitted selling methamphetamine starting when he was released from jail three years prior. His source provided him with a regular supply of meth that he would sell. Seminole also admitted he carried firearms when selling drugs.

Assistant U.S. Attorney Julie Patten prosecuted the case, and the investigation was conducted by the FBI.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

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MIL Security OSI –

April 26, 2025
MIL-OSI Security: Ex-Congressman George Santos Sentenced to 87 Months in Prison for Wire Fraud and Aggravated Identity Theft
Source: Office of United States Attorneys

Santos Filed Fraudulent FEC Reports, Embezzled Funds from Campaign Donors, Stole Identities, Charged Credit Cards Without Authorization, Obtained Unemployment Benefits Through Fraud, and Lied in Reports to the U.S. House of Representatives
Former Congressman George Anthony Devolder Santos was sentenced today by United States District Judge Joanna Seybert at the federal courthouse in Central Islip to 87 months in prison for committing wire fraud and aggravated identity theft. As part of the sentence, Santos was ordered to pay restitution to his victims in the amount of $373,749.97 and $205,002.97 in forfeiture. Santos pleaded guilty in August 2024.

John J. Durham, United States Attorney for the Eastern District of New York; Matthew R. Galeotti, Head of the Department of Justice’s Criminal Division; Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI); Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI New York); and Anne T. Donnelly, Nassau County District Attorney announced the sentence.

“Today, George Santos was finally held accountable for the mountain of lies, theft, and fraud he perpetrated. For the defendant, it was judgment day, and for his many victims including campaign donors, political parties, government agencies, elected bodies, his own family members, and his constituents, it is justice,” stated U.S. Attorney Durham. “To Mr. Santos and other dishonest individuals of that ilk, who lie, steal identities and commit frauds to get elected to public office, this prosecution speaks to the truth that my Office is committed to aggressively rooting out public corruption and that public officials who criminally abuse our electoral process will end up in a federal prison.”

Mr. Durham expressed his appreciation to the U.S. Department of Labor, Office of Inspector General and the New York State Department of Labor, for their assistance.

FBI Assistant Director in Charge Raia stated, “Today, former United States Congressman George Santos is held accountable for his repeated criminal dishonesty – financing his election campaign with ill-obtained funds, stealing COVID unemployment benefits, and providing materially false information in his financial disclosure. Santos abused his authority to garner illicit donations and campaign support; ultimately betraying the public’s trust and violating our democratic systems. May today’s sentencing emphasize the FBI’s continued commitment to dismantling any fraudulent scheme designed to unlawfully benefit those in positions of power.”

“George Santos blatantly disregarded campaign finance laws and abused the trust of his constituents and contributors. While he may have made a mockery of his position in public office, today’s sentencing is justice for those he has wronged. CI New York proudly worked with the Eastern District of New York, the FBI and Nassau County DA’s office to ensure that Santos faces the consequences of his years of deception,” stated IRS-CI New York Special Agent in Charge Chavis.

“George Santos spent his brief career in public service conning his donors and constituents until the deceit caught up to him and he was exposed as an opportunist and a fraud. Today’s lengthy prison sentence is a just ending for a weaver of lies who believed he was above the law,” stated Nassau County District Attorney Donnelly. “Being elected to represent any community is accepting a solemn responsibility and a position of great trust. George Santos failed the people he was elected to represent in Nassau County and Queens. He broke that trust and traded in his integrity for designer clothes and a luxury lifestyle. I will continue to work with my partners to root out public corruption and ensure that the crucial standards to which we hold our elected officials and public institutions are upheld.”

The counts to which Santos pled guilty relate to the following criminal scheme, as set forth in the superseding indictment:

The Party Program Scheme

During the 2022 election cycle, Santos was a candidate for the United States House of Representatives in New York’s Third Congressional District. Nancy Marks, who pleaded guilty on October 5, 2023 to related conduct, was the treasurer for his principal congressional campaign committee, Devolder-Santos for Congress. During this election cycle, Santos and Marks devised and executed a fraudulent scheme to obtain money for the campaign by submitting materially false reports to the Federal Election Commission (FEC), in which they inflated the campaign’s fundraising numbers for the purpose of misleading the FEC, a national party committee, and the public.

The purpose of the scheme was to ensure that Santos and his campaign qualified for a program administered by the national party committee to provide financial and logistical support to Santos’s campaign. To qualify for the program, Santos had to demonstrate, among other things, that his congressional campaign had raised at least $250,000 from third-party contributors in a single quarter.

To create the public appearance that his campaign had met that financial benchmark and was otherwise financially viable, Santos and Marks agreed to falsely report to the FEC that at least 11 of their family members had made significant financial contributions to the campaign. In fact, Santos and Marks both knew that these individuals had neither made the reported contributions nor given authorization for their personal information to be included in such false public reports. In addition, Santos and Marks knew that the national party committee relied on FEC fundraising data to evaluate candidates’ qualification for the program, and agreed to falsely report to the FEC that Santos had loaned the campaign significant sums of money, when, in fact, Santos had not made the reported loans and, at the time the loans were reported, did not have the funds necessary to make such loans. These falsely reported loans included one for $500,000 when in fact Santos had less than $8,000 in his personal and business bank accounts.

Through the execution of this scheme, Santos and Marks ensured that Santos met the necessary financial benchmarks to qualify for the program administered by the national party committee. As a result of qualifying for the program, the congressional campaign received significant financial support.

As part of his plea agreement, Santos stipulated that he had engaged in the following additional criminal conduct, as set forth in the superseding indictment and other court filings, and agreed that this criminal conduct would be considered by the Court at the time of sentencing:

The Credit Card Fraud Scheme

Between approximately July 2020 and October 2022, Santos devised and executed a fraudulent scheme to steal the personal identity and financial information of contributors to his campaign. He then repeatedly charged contributors’ credit cards without their authorization. Because of these unauthorized transactions, funds were transferred to Santos’s campaign, to the campaigns of other candidates for elected office, and to his own bank account. To conceal the true source of these funds and to circumvent campaign contribution limits, Santos falsely represented in FEC filings that some of the campaign contributions were made by other persons, such as his relatives or associates, rather than the true cardholders. Santos did not have authorization to use their names in this way. In furtherance of the scheme, Santos sought out victims he knew were elderly persons suffering from cognitive impairment or decline.

Fraudulent Political Contribution Solicitation Scheme

Beginning in September 2022, during his successful campaign for Congress, Santos operated a limited liability company (Company #1) through which he defrauded prospective political supporters. Santos enlisted a Queens-based political consultant (Person #1) to communicate with prospective donors on Santos’s behalf. Santos directed Person #1 to falsely tell donors that, among other things, their money would be used to help elect Santos to the House, including by purchasing television advertisements. In reliance on these false statements, two donors (Contributor #1 and Contributor #2) each transferred $25,000 to Company #1’s bank account, which Santos controlled.

Shortly after the funds were received into Company #1’s bank account, the money was transferred into Santos’s personal bank accounts—in one instance laundered through two of Santos’s personal accounts. Santos then used much of that money for personal expenses. Among other things, Santos used the funds to make personal purchases, including of designer clothing, to withdraw cash, to discharge personal debts, and to transfer money to his associates.

Unemployment Insurance Fraud Scheme

Beginning in approximately February 2020, Santos was employed as a Regional Director of a Florida-based investment firm (Investment Firm #1). By late March 2020, in response to the outbreak of COVID-19 in the United States, new legislation was signed into law that provided additional federal funding to assist out-of-work Americans during the pandemic.

In mid-June 2020, although he was employed and not eligible for unemployment benefits, Santos applied for government assistance through the New York State Department of Labor (NYS DOL), claiming falsely to have been unemployed since March 2020. From that point until April 2021—during which time Santos was working and receiving a salary on a near-continuous basis, and throughout his first unsuccessful run for Congress—he falsely affirmed each week that he was eligible for unemployment benefits when he was not. As a result, Santos fraudulently received more than $24,000 in unemployment insurance benefits.

False Statements to the House of Representatives

Santos, like all candidates for the House, had a legal duty to file with the Clerk of the United States House of Representatives a Financial Disclosure Statement (House Disclosures) before each election. In his House Disclosures, Santos was personally required to give a full and complete accounting of his assets, income, and liabilities, among other things. He certified that his House Disclosures were true, complete, and correct.

In September 2022, in connection with his second campaign for election to the House, Santos filed a House Disclosure in which he vastly overstated his income and assets. In this House Disclosure, he falsely certified that during the reporting period:
- He had earned $750,000 in salary from the Devolder Organization LLC, a Florida‑based entity of which Santos was the sole beneficial owner;
- He had received between $1,000,001 and $5 million in dividends from the Devolder Organization LLC;
- He had a checking account with deposits of between $100,001 and $250,000; and
- He had a savings account with deposits of between $1 million and $5 million.
These assertions were false: Santos had not received from the Devolder Organization LLC the reported amounts of salary or dividends and did not maintain checking or savings accounts with deposits in the reported amounts. Further, Santos failed to disclose that, in 2021, he received approximately $28,000 in income from Investment Firm #1 and more than $20,000 in unemployment insurance benefits from the NYS DOL.

The government’s case is being handled by the Office’s Public Integrity Section and the Criminal Section of the Office’s Long Island Division, along with the Public Integrity Section of the Department of Justice’s Criminal Division. Assistant United States Attorneys Ryan Harris, Anthony Bagnuola, and Laura Zuckerwise, along with Trial Attorney John Taddei, are in charge of the prosecution, with assistance from Paralegal Specialists Rachel Friedman and Dinora Orozco.

The Defendant:

GEORGE ANTHONY DEVOLDER SANTOS
Age: 36
Queens, New York

E.D.N.Y. Docket No. 23-CR-197 (S-2) (JS)
MIL Security OSI –
April 26, 2025
MIL-OSI Security: Michigan Man Sentenced in Maryland to Five Years in Federal Prison for Tax-Refund Money Laundering Scheme

Source: Office of United States Attorneys

The conspirators used stolen personally identifiable information from identity theft victims located in Maryland

Greenbelt, Maryland – Today, U.S. District Judge Deborah K. Chasanow sentenced Jerome Brown, 42, of Detroit, Michigan, to five years in federal prison for his role in laundering money stolen from federal and North Carolina state-tax refunds. Additionally, Brown was ordered to pay restitution in the amount of $604,889.64. On January 28, 2022, Brown pled guilty to conspiracy to commit money laundering.

Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the sentence with Special Agent in Charge Kareem A. Carter, Internal Revenue Service – Criminal Investigation (IRS-CI), Washington, D.C. Field Office; Special Agent in Charge Matt McCool, U.S. Secret Service (USSS) – Washington Field Office; Joseph V. Cuffari, Inspector General for the Department of Homeland Security (DHS-OIG); and Acting Special Agent in Charge Colleen Lawlor, Social Security Administration (SSA-OIG) Office of Inspector General – Philadelphia Field Division.

In his guilty plea, Brown acknowledged that from February through August 2020, he conspired with individuals in Nigeria and Michigan to launder wire-fraud proceeds. The co-conspirators placed the wire-fraud proceeds on Green Dot pre-paid debit cards. Brown laundered the fraudulent funds by depositing them into bank accounts and cashing them out through ATM withdrawals and purchasing money orders and cryptocurrency.

These fraudulent proceeds were comprised of stolen funds from the Internal Revenue Service (IRS) and the North Carolina Department of Revenue (NCDOR). The IRS and NCDOR administer federal and North Carolina state-revenue laws, respectively, and pay “tax refunds” to individuals who are entitled to them under the law. At the time, these funds could be paid onto pre-paid debit cards. Brown and his co-conspirators regularly cashed out these funds soon after the government agencies added funds to a card.

Through the fraudulent scheme, one of Brown’s co-conspirators, who was working from Nigeria, and others, caused funds to be placed on the pre-paid debit cards. The co-conspirators registered the cards with Green Dot using stolen personally identifiable information (PII) from identity theft victims around the country, including in Maryland.

Co-conspirators purchased the pre-paid debit cards in the United States and then sent the associated card information to the co-conspirator in Nigeria to receive the stolen government funds. The co-conspirators aided the fraudulent scheme by using stolen PII to file for false IRS tax refunds. Additionally, the co-conspirators applied for NCDOR tax refunds and state unemployment insurance payments.

The federal and state agencies then deposited the proceeds through ACH transfers directly onto the pre-paid debit cards. After the funds were placed onto the pre-paid debit cards, the co-conspirator in Nigeria informed others, including Brown, that the funds were available on the cards. In exchange for a commission, Brown and the other co-conspirators facilitated the cashing out of the cards and returned the remaining funds to the co-conspirator in Nigeria.

Brown and the other co-conspirators took steps to conceal their identities, the money laundering conspiracy, and scheme to defraud. The co-conspirators attempted to hide the fraudulent scheme by enlisting others to make withdrawals from the cards, withdrawing from multiple locations, converting funds into cash rather than depositing them into bank accounts, and making money orders payable to other individuals.

The defendant cashed out at least approximately $540,975.80 from pre-paid debit cards as part of the scheme. Brown kept approximately 40 percent of the proceeds, for a total of $216,390.36, and sent approximately $324,585.44 in Bitcoin to his co-conspirator in Nigeria. The co-conspirators used the pre-paid debit cards to apply for at least approximately $1,255,761 in benefits from the IRS and $588,716 in benefits from the NCDOR.

U.S. Attorney Hayes commended the IRS-CI, USSS, DHS-OIG, SSA-OIG, and U.S. Postal Inspection Service (USPIS) – Detroit Division for their work in the investigation. Ms. Hayes also thanked Assistant U.S. Attorneys Elizabeth Wright and Darren Gardner who prosecuted the federal case.

For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

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MIL Security OSI –

April 26, 2025
MIL-OSI Russia: Chair’s Statement: Fifty-First Meeting of the IMFC – Mr. Mohammed Aljadaan, Minister for Finance of Saudi Arabia
Source: IMF – News in Russian

April 25, 2025

In the context of the Fifty-First Meeting of the IMFC that took place in Washington, D.C. on 24^th and 25^th April, IMFC members welcomed the ongoing efforts to end wars and conflicts, recognizing that peace is essential to restoring stability and fostering sustainable growth. IMFC members underscored that all states must act in a manner consistent with the Purposes and Principles of the UN Charter in its entirety. They acknowledged, however, that the IMFC is not a forum to resolve geopolitical and security issues which are discussed in other fora.

The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow and intensifying downside risks dominate the outlook. We will step up our efforts to strengthen economic resilience and build a more prosperous future. We underline the critical role of the IMF in helping us navigate this challenging environment, as a trusted advisor and champion of strong policy frameworks. We thank our Deputies for discussing the medium-term direction of the IMF during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025, and we agree on the annexed Diriyah Declaration.
1. The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow, while disinflation is expected to continue but at a slower pace. Intensifying downside risks dominate the outlook, in an already challenging context of weak growth and high public debt. Wars and conflicts impose a heavy humanitarian and economic toll. Transformative forces, such as digitalization/artificial intelligence, demographic shifts, and climate transitions are creating opportunities, but also challenges.
1. We will step up our efforts to strengthen economic resilience and break from the low-growth, high-debt path, while harnessing transformative forces, to build a more prosperous future. Comprehensive and well calibrated, well sequenced, and well communicated reforms and policy actions are needed to boost private sector-led growth, productivity, and job creation. We will pursue sound macroeconomic policies and advance structural reforms to improve the business environment, streamline excessive regulation, fight corruption, and mobilize innovation and technology adoption. We will deepen our pivot toward growth-friendly fiscal adjustments to ensure debt sustainability and rebuild buffers where needed. Fiscal adjustments should be mindful of distributional impacts and underpinned by a credible medium-term consolidation plan, while strengthening the efficiency of public spending, protecting the vulnerable, and supporting growth-enhancing public and private investments, taking into account country circumstances. Central banks remain strongly committed to maintaining price stability, in line with their respective mandates, and will continue to adjust their policies in a data dependent and well-communicated manner. We will continue to closely monitor and, as necessary, tackle financial vulnerabilities and risks to financial stability, while harnessing the benefits of innovation. We will work together to improve the resilience of the world economy and build prosperity and ensure the stability and effective functioning of the international monetary system. We will also work together to address excessive global imbalances, support an open, fair and rules-based international economic order, and reinforce supply chain resilience. We reaffirm our April 2021 exchange rate commitments.
1. We will continue to support countries as they undertake reforms and address debt vulnerabilities and debt service challenges. We acknowledge the specific challenges faced by low-income and vulnerable countries, including fragile and conflict-affected states (FCS) and small developing states (SDS), which are further compounded by recent decrease in official development assistance. We underline the importance of the Poverty Reduction and Growth Trust. We welcome the progress made on debt treatments under the G20 Common Framework (CF) and beyond. We remain committed to addressing global debt vulnerabilities in an effective, comprehensive, and systematic manner, including further stepping up the CF’s implementation in a predictable, timely, orderly, and coordinated manner, and enhancing debt transparency. We look forward to further work at the Global Sovereign Debt Roundtable on ways to address debt vulnerabilities and restructuring challenges. We encourage the IMF and the World Bank to help advance the implementation of the 3-pillar approach to address debt service pressures in countries with sustainable debt, including through supporting them to implement growth-enhancing reforms, mobilize domestic resources, and attract private capital. We look forward to the review of the Low-Income Country Debt Sustainability Framework (LIC-DSF).
1. We welcome the Managing Director’s Global Policy Agenda.
1. We support further sharpening the focus of surveillance based on analytical rigor, evenhandedness, and tailored policy advice. We welcome a strong focus on helping countries strengthen their economic resilience and achieve macroeconomic and financial stability and sustainable growth by increasing productivity, addressing macro-critical risks, reducing excessive imbalances, achieving debt sustainability, and mitigating disruptive capital flows and exchange rate volatility. We look forward to the Comprehensive Surveillance Review that will set future surveillance priorities and modalities; and the Review of Financial Sector Assessment Programs to keep financial surveillance in step with evolving financial stability risks.
1. We look forward to the Review of Program Design and Conditionality to strengthen further the effectiveness of IMF-supported programs and to the Review of the Short-Term Liquidity Line. We also look forward to the assessment of the Global Financial Safety Net, including the role of Regional Financing Arrangements (RFAs), and its ability to safeguard global financial stability.
1. We support efforts to further strengthen capacity development and to ensure the sustainability of financing. We welcome the IMF’s ongoing work with the World Bank on the Joint Domestic Resource Mobilization Initiative. We welcome a more flexible and tailored delivery, better integrated with policy advice and program design, as set out in the 2024 Capacity Development Strategy Review.
1. We reaffirm our commitment to a strong, quota-based, and adequately resourced IMF at the center of the GFSN. We have advanced the domestic approvals for our consent to the quota increase under the 16^th General Review of Quotas and we look forward to the finalization of this process as soon as possible. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. We acknowledge, however, that building consensus among members on quota and governance reforms will require progress in stages. In this regard, we agree on the annexed Diriyah Declaration on the way forward.
1. We underline the critical role of the IMF in helping us navigate the current challenging environment, as a trusted advisor and champion of strong policy frameworks. We reaffirm our commitment to the institution and look forward to discussing further ways to ensure the Fund remains agile and focused, working in collaboration with partners and other IFIs. We reiterate our appreciation for staff’s high-quality work and dedication to support the membership and continue to encourage further efforts to improve regional and women’s representation within staff positions, and women’s representation at the Executive Board and in Board leadership positions.
1. Our next meeting is expected to be held in October 2025.
Annexed Diriyah Declaration

Recalling the October 2024 IMFC Chair’s Statement, which stated: “We reiterate our strong commitment to the Fund on its 80th anniversary and look forward to further discussing at our next meeting ways to ensure the Fund remains well-equipped to meet future challenges, in line with its mandate, and in collaboration with partners and other IFIs. We ask our Deputies to prepare for this discussion.”; and

Drawing on the work advanced by our Deputies, who met in the historic town of Diriyah in the Kingdom of Saudi Arabia on April 6-7, 2025, to prepare for this discussion;

We thank our Deputies and agree on the following Diriyah Declaration on the way forward with regard to IMFC processes and IMF quota and governance reforms.

*****

Enhancing IMFC Processes

We agree that the IMFC plays a key role in the IMF’s governance structure, offering the IMF Board of Governors trusted advice and providing strategic direction to the work and policies of the Fund through structured, high-level, and consensus-driven policy guidance on all relevant issues.

To enhance its effectiveness as a forum for effective engagement and consensus-building on complex challenges, we agree to further strengthen IMFC processes. To this end, we welcome recent improvements to the format of the Introductory IMFC session and the use of concise, accessible communiqués to effectively convey key IMFC messages to a broader audience. Moreover, we agree that deputy-level meetings focused on strategic rather than routine issues could support the work of IMFC principals.

We appreciate the value of engagement across the international financial architecture, including with Regional Financing Arrangements (RFAs), to enhance cooperation and strengthen the resilience of the international monetary system.

Strengthening IMF Governance

We note that the world economy currently faces significant challenges and agree that the IMF makes a vital contribution to international cooperation, providing a long-established and trusted institution for policy discussions informed by rigorous analysis. We stress that the IMF’s mandate to promote macroeconomic and financial stability remains as relevant as ever, and its role to support members in addressing macroeconomic challenges through analysis and policy advice, capacity development, and financing where relevant, is key. We agree on the need to ensure that the institution remains strong, quota-based, adequately resourced, and efficiently managed to fulfil its mandate at the center of the global financial safety net.

We agree that a strong, inclusive, and representative governance framework is fundamental to maintaining the Fund’s credibility and legitimacy among its diverse membership. Strengthening IMF governance will support its continued ability to effectively promote consensus among the membership in addressing global challenges. These efforts are also essential to fostering multilateralism and international cooperation.

Given the strategic importance of governance reforms, we recognize that progress toward consensus should be made in stages. In this context, we agree to develop as a first step a set of general principles to guide future discussions and help foster convergence of views. Work on these principles should be completed in a timely manner to help ensure the efficient progression of future General Reviews of Quotas (GRQs), including under the 17^th GRQ. Establishing these guiding principles would help ensure that governance changes are gradual, widely acceptable, and reflective of the interests of the entire membership, as well as maintain the Fund’s financial soundness.

The Way Forward

We agree that implementation of the 16^th GRQ remains a priority. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. To build consensus on future governance reforms, including under the 17^th GRQ, we call on the Executive Board to develop, by the 2026 Spring Meetings, a set of principles to guide future discussions on IMF quotas and governance, drawing from the deliberations by IMFC Deputies during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025. We look forward to a discussion of the status of advancement of this work at our next meeting. We ask our Deputies to prepare for this discussion.

INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE

ATTENDANCE

Chair

Mohammed Aljadaan, Minister of Finance, Saudi Arabia

Managing Director

Kristalina Georgieva

Members or Alternates

Ayman Alsayari, Governor of the Saudi Central Bank, Saudi Arabia (Alternate for Mohammed Aljadaan, Minister of Finance, Saudi Arabia)

Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs, United Arab Emirates

Edgar Amador Zamora, Minister of Finance and Public Credit, Mexico

Scott Bessent, Secretary of the Treasury, United States

Edouard Normand Bigendako, Governor, Bank of the Republic of Burundi

Luis Caputo, Minister of Economy, Argentina

Tiff Macklem, Governor of the Bank of Canada (Alternate for Francois-Philippe Champagne, Minister of Finance, Canada)

Sang Mok Choi, Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea

Giancarlo Giorgetti, Minister of Economy and Finance, Italy

Gabriel Galipolo, Governor, Central Bank of Brazil (Alternate for Fernando Haddad, Minister of Finance, Brazil)

Jan Jambon, Deputy Prime Minister and Minister of Finance, Pensions, National Lottery and Federal Culture Institutions, Belgium

Katsunobu Kato, Minister of Finance, Japan

Daniela Stoffel, State Secretary for International Finance, Federal Department of Finance, Switzerland (Alternate for Karin Keller-Sutter, Minister of Finance, Switzerland)

Lesetja Kganyago, Governor, South African Reserve Bank, South Africa

Jörg Kukies, Federal Minister of the Ministry of Finance, Germany

François Villeroy de Galhau, Governor of the Bank of France (Alternate for Eric Lombard, Minister for the Economy, Finance and Industrial and Digital Sovereignty, France)

Adebayo Olawale Edun, Minister of Finance and the Coordinating Minister of the Economy, Nigeria

Gongsheng Pan, Governor of the People’s Bank of China

Rachel Reeves, Chancellor of the Exchequer, H.M. Treasury, United Kingdom

Pavel Snisorenko, Director, Department of International Financial Relations (Alternate for Anton Siluanov, Minister of Finance, Russian Federation)

Sanjay Malhotra, Governor, Reserve Bank of India (Alternate for Nirmala Sitharaman, Minister of Finance, India)

Mehmet Simsek, Minister of Treasury and Finance, Republic of Türkiye

Salah-Eddine Taleb, Governor, Bank of Algeria

Perry Warjiyo, Governor, Bank of Indonesia

Ida Wolden Bache, Governor, Bank of Norway

Observers

Agustín Carstens, General Manager, Bank for International Settlements (BIS)

Elisabeth Svantesson, Chair, Development Committee (DC) and Minister for Finance, Sweden

Christine Lagarde, President, European Central Bank (ECB)

Valdis Dombrovskis, Commissioner for Economy and Productivity, European Commission (EC)

Klaas Knot, Chair, Financial Stability Board (FSB) and President of De Nederlandsche Bank

Celeste Drake, Deputy Director-General, International Labour Organization (ILO)

Mathias Cormann, Secretary-General, Organisation for Economic Co-operation and Development (OECD)

Mohannad Alsuwaidan, Economic Analyst, Petroleum Studies Department, Organization of the Petroleum Exporting Countries (OPEC)

Achim Steiner, UNDP Administrator, United Nations (UN)

Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development (UNCTAD)

Ajay Banga, President of the World Bank Group, The World Bank (WB)

Ngozi Okonjo-Iweala, Director-General, World Trade Organization (WTO)

IMF Communications Department

MEDIA RELATIONS

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Phone: +1 202 623-7100Email: MEDIA@IMF.org

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/04/25/pr-123-imfc-chairs-statement-fifty-first-meeting-of-the-imfc

MIL OSI
MIL OSI Russia News –
April 26, 2025
MIL-OSI USA: ICYMI: Sen. Markey, Rep. McGovern, Rep. Pressley Op-Ed in The New York Times: “We Visited Rümeysa Öztürk in Detention. What We Saw Was a Warning to Us All.”

US Senate News:

Source: United States Senator for Massachusetts Ed Markey
Read the full piece in The New York Times
Washington (April 25, 2025) – Senator Edward J. Markey (D-Mass.) and Representatives Jim McGovern (MA-02) and Ayanna Pressley (MA-07) this morning published an op-ed in The New York Times titled: “We Visited Rümeysa Öztürk in Detention. What We Saw Was a Warning to Us All.”
This week, Senator Markey and Representatives McGovern and Pressley met with Ms. Öztürk, a Turkish national and fifth-year doctoral student at Tufts University, who has been unlawfully detained by ICE and transported to Louisiana from her Somerville, Massachusetts, community in retaliation for her protected speech. The lawmakers called on the Trump administration to immediately release Ms. Öztürk and urged every American to defend the Constitution.
We Visited Rümeysa Öztürk in Detention. What We Saw Was a Warning to Us All.
By Edward J. Markey, Jim McGovern, and Ayanna Pressley
Published April 25, 2025, by The New York Times
We recently visited Ms. Öztürk at an Immigration and Customs Enforcement detention center in Basile, La., operated by the for-profit company Geo Secure Services, contracted by the federal government. It’s part of the network of ICE facilities in Louisiana that the American Civil Liberties Union has described as a “black hole” — hard to reach and isolated, making visits from attorneys and family members prohibitively difficult and expensive.
What we found was not just a young woman locked up without charge but also a democracy being put to the test.
Read the full opinion piece in The New York Times.

MIL OSI USA News –

April 26, 2025
MIL-OSI Global: In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next?

Source: The Conversation – Global Perspectives – By Jeffrey Fields, Associate Professor of the Practice of International Relations, USC Dornsife College of Letters, Arts and Sciences

A mural on the outer walls of the former US embassy in Tehran depicts two men in negotiation. Majid Saeedi/Getty Images

Negotiators from Iran and the United States are set to meet again in Oman on April 26, prompting hopes the two countries might be moving, albeit tentatively, toward a new nuclear accord.

The scheduled talks follow the two previous rounds of indirect negotiations that have taken place under the new Trump administration. Those discussions were deemed to have yielded enough progress to merit sending nuclear experts from both sides to begin outlining the specifics of a potential framework for a deal.

The development is particularly notable given that Trump, in 2018, unilaterally walked the U.S. away from a multilateral agreement with Iran. That deal, negotiated during the Obama presidency, put restrictions on Tehran’s nuclear program in return for sanctions relief. Trump{,} instead turned to a policy that involved tightening the financial screws on Iran through enhanced sanctions while issuing implicit military threats.

But that approach failed to disrupt Iran’s nuclear program.

Now, rather than revive the maximum pressure policy of his first term, Trump – ever keen to be seen as a dealmaker – has given his team the green light for the renewed diplomacy and even reportedly rebuffed, for now, Israel’s desire to launch military strikes against Tehran.

Jaw-jaw over war-war

The turn to diplomacy returns Iran-US relations to where they began during the Obama administration, with attempts to encourage Iran to curb or eliminate its ability to enrich uranium.

Only this time, with the U.S. having left the previous deal in 2018, Iran has had seven years to improve on its enrichment capability and stockpile vastly more uranium than had been allowed under the abandoned accord.

As a long-time expert on U.S. foreign policy and nuclear nonproliferation, I believe Trump has a unique opportunity to not only reinstate a similar nuclear agreement to the one he rejected, but also forge a more encompassing deal – and foster better relations with the Islamic Republic in the process.

The front pages of Iran’s newspapers in a sidewalk newsstand in Tehran, Iran, on April 13, 2025.
Alireza/Middle East Images/AFP via Getty Images

There are real signs that a potential deal could be in the offing, and it is certainly true that Trump likes the optics of dealmaking.

But an agreement is by no means certain. Any progress toward a deal will be challenged by a number of factors, not least internal divisions and opposition within the Trump administration and skepticism among some in the Islamic Republic, along with uncertainty over a succession plan for the aging Ayatollah Khamenei.

Conservative hawks are still abundant in both countries and could yet derail any easing of diplomatic tensions.

A checkered diplomatic past

There are also decades of mistrust to overcome.

It is an understatement to say that the U.S. and Iran have had a fraught relationship, such as it is, since the Iranian revolution of 1979 and takeover of the U.S. embassy in Tehran the same year.

Many Iranians would say relations have been strained since 1953, when the U.S. and the United Kingdom orchestrated the overthrow of Mohammad Mossadegh, the democratically elected prime minister of Iran.

Washington and Tehran have not had formal diplomatic relations since 1979, and the two countries have been locked in a decadeslong battle for influence in the Middle East. Today, tensions remain high over Iranian support for a so-called axis of resistance against the West and in particular U.S. interests in the Middle East. That axis includes Hamas in Palestine, Hezbollah in Lebanon and the Houthis in Yemen.

For its part, Tehran has long bristled at American hegemony in the region, including its resolute support for Israel and its history of military action. In recent years that U.S. action has included the direct assaults on Iranian assets and personnel. In particular, Tehran is still angry about the 2020 assassination of Qassem Soleimani, the head of the Quds Force of the Islamic Revolutionary Guard Corps.

Standing atop these various disputes, Iran’s nuclear ambitions have proved a constant source of contention for the United States and Israel, the latter being the only nuclear power in the region.

The prospect of warmer relations between the two sides first emerged during the Obama administration – though Iran sounded out the Bush administration in 2003 only to be rebuffed.

U.S. diplomats began making contact with Iranian counterparts in 2009 when Undersecretary of State for Political Affairs William Burns met with an Iranian negotiator in Geneva. The so-called P5+1 began direct negotiations with Iran in 2013. This paved the way for the eventual Iran nuclear deal, or Joint Comprehensive Plan of Action (JCPOA), in 2015. In that agreement – concluded by the U.S., Iran, China, Russia and a slew of European nations – Iran agreed to restrictions on its nuclear program, including limits on the level to which it could enrich uranium, which was capped well short of what would be necessary for a nuclear weapon. In return, multilateral and bilateral U.S. sanctions would be removed.

Many observers saw it as a win-win, with the restraints on a burgeoning nuclear power coupled with hopes that greater economic engagement with the international community that might temper some of Iran’s more provocative foreign policy behavior.

Yet Israel and Saudi Arabia worried the deal did not entirely eliminate Iran’s ability to enrich uranium, and right-wing critics in the U.S. complained it did not address Iran’s ballistic missile programs or support for militant groups in the region.

Benjamin Netanyahu, Prime Minister of Israel, draws a red line on a graphic of a bomb while discussing Iran at the United Nations on Sept. 27, 2012.
Mario Tama/Getty Images

When Trump first took office in 2016, he and his foreign policy team pledged to reverse Obama’s course and close the door on any diplomatic opening. Making good on his pledge, Trump unilaterally withdrew U.S. support for the JCPOA despite Iran’s continued compliance with the terms of the agreement and reinstated sanctions.

Donald the dealmaker?

So what has changed? Well, several things.

While Trump’s withdrawal from the JCPOA was welcomed by Republicans, it did nothing to stop Iran from enhancing its ability to enrich uranium.

Meanwhile, Saudi Arabia, eager to transform its image and diversify economically, now supports a deal it opposed during the Obama administration.

In this second term, Trump’s anti-Iran impulses are still there. But despite his rhetoric of a military option should a deal not be struck, Trump has on numerous occasions stated his opposition to U.S. involvement in another war in the Middle East.

In addition, Iran has suffered a number of blows in recent years that has left it more isolated in the region. Iranian-aligned Hamas and Hezbollah have been seriously weakened as a result of military action by Israel. Meanwhile, strikes within Iran by Israel have shown the potential reach of Israeli missiles – and the apparent willingness of Prime Minister Benjamin Netanyahu to use them. Further, the removal of President Bashar al-Assad in Syria has deprived Iran of another regional ally.

Tehran is also contending with a more fragile domestic economy than it had during negotiations for JCPOA.

With Iran weakened regionally and Trump’s main global focus being China, a diplomatic avenue with Iran seems entirely in line with Trump’s view of himself as a dealmaker.

A deal is not a given

With two rounds of meetings completed and the move now to more technical aspects of a possible agreement negotiated by experts, there appears to be a credible window of opportunity for diplomacy.

This could mean a new agreement that retains the core aspects of the deal Trump previously abandoned. I’m not convinced a new deal will look any different from the previous in terms of the enrichment aspect.

There are still a number of potential roadblocks standing in the way of any potential deal, however.

As was the case with Trump’s meetings with North Korean leader Kim Jong-un during his first term, the president seems to be less interested in details than spectacle. While it was quite amazing for an American leader to meet with his North Korean counterpart, ultimately, no policy meaningfully changed because of it.

On Iran and other issues, the president displays little patience for complicated policy details. Complicating matters is that the U.S. administration is riven by intense factionalism, with many Iran hawks who would be seemingly opposed to a deal – including Secretary of State Marco Rubio and national security adviser Mike Waltz. They could rub up against newly confirmed Undersecretary of Defense for policy Elbridge Colby and Vice President JD Vance, both of whom have in the past advocated for a more pro-diplomacy line on Iran.

As has become a common theme in Trump administration foreign policy – even with its own allies on issues like trade – it’s unclear what a Trump administration policy on Iran actually is, and whether a political commitment exists to carry through any ultimate deal.

Top Trump foreign policy negotiator Steve Witkoff, who has no national security experience, has exemplified this tension. Tasked with leading negotiations with Iran, Witkoff has already having been forced to walk back his contention that the U.S. was only seeking to cap the level of uranium enrichment rather than eliminate the entirety of the program.

For its part, Iran has proved that it is serious about diplomacy, previously having accepted Barack Obama’s “extended hand.”

But Tehran is unlikely to capitulate on core interests or allow itself to be humiliated by the terms of any agreement.

Ultimately, the main question to watch is whether a deal with Iran is to be concluded by pragmatists – and then to what extent, narrow or expansive – or derailed by hawks within the administration.

Jeffrey Fields receives funding from the Carnegie Corporation of New York.

– ref. In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next? – https://theconversation.com/in-talking-with-tehran-trump-is-reversing-course-on-iran-could-a-new-nuclear-deal-be-next-254770

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI Global: Tensions over Kashmir and a warming planet have placed the Indus Waters Treaty on life support

Source: The Conversation – Global Perspectives – By Fazlul Haq, Postdoctoral Scholar at the Byrd Polar and Climate Research Center, The Ohio State University

The Indus River Valley in the cold desert of Ladakh, India. Pallava Bagla/Getty Images

In 1995, World Bank Vice President Ismail Serageldin warned that whereas the conflicts of the previous 100 years had been over oil, “the wars of the next century will be fought over water.”

Thirty years on, that prediction is being tested in one of the world’s most volatile regions: Kashmir.

On April 24, 2025, the government of India announced that it would downgrade diplomatic ties with its neighbor Pakistan over an attack by militants in Kashmir that killed 26 tourists. As part of that cooling of relations, India said it would immediately suspend the Indus Waters Treaty – a decades-old agreement that allowed both countries to share water use from the rivers that flow from India into Pakistan. Pakistan has promised reciprocal moves and warned that any disruption to its water supply would be considered “an act of war.”

The current flareup escalated quickly, but has a long history. At the Indus Basin Water Project at the Ohio State University, we are engaged in a multiyear project investigating the transboundary water dispute between Pakistan and India.

Fazlul Haq walks through the Gargo Glacier floodplain in the Upper Indus Basin.
Fazlul Haq/Indus Basin Water Project/Ohio State University, CC BY-SA

I am currently in Pakistan conducting fieldwork in Kashmir and across the Indus Basin. Geopolitical tensions in the region, which have been worsened by the recent attack in Pahalgam, Indian-administered Kashmir, do pose a major threat to the water treaty. So too does another factor that is helping escalate the tensions: climate change

A fair solution to water disputes

The Indus River has supported life for thousands of years since the Harappan civilization, which flourished around 2600 to 1900 B.C.E. in what is now Pakistan and northwest India.

After the partition of India in 1947, control of the Indus River system became a major source of tension between the two nations that emerged from partition: India and Pakistan. Disputes arose almost immediately, particularly when India temporarily halted water flow to Pakistan in 1948, prompting fears over agricultural collapse. These early confrontations led to years of negotiations, culminating in the signing of the Indus Waters Treaty in 1960.

Fazlul Haq/Bryan Mark/Byrd Polar and Climate Research Center/Ohio State University, CC BY

Brokered by the World Bank, the Indus Waters Treaty has long been hailed as one of the most successful transboundary water agreements.

It divided the Indus Basin between the two countries, giving India control over the eastern rivers – Ravi, Beas and Sutlej – and Pakistan control over the western rivers: Indus, Jhelum and Chenab.

At the time, this was seen as a fair solution. But the treaty was designed for a very different world. Back then, India and Pakistan were newly independent countries working to establish themselves amid a world divided by the Cold War.

When it was signed, Pakistan’s population was 46 million, and India’s was 436 million. Today, those numbers have surged to over 240 million and 1.4 billion, respectively.

Today, more than 300 million people rely on the Indus River Basin for their survival.

This has put increased pressure on the precious source of water that sits between the two nuclear rivals. The effects of global warming, and the continued fighting over the disputed region of Kashmir, has only added to those tensions.

Impact of melting glaciers

Many of the problems of today are down to what wasn’t included in the treaty, rather than what was.

At the time of signing, there was a lack of comprehensive studies on glacier mass balance. The assumption was that the Himalayan glaciers, which feed the Indus River system, were relatively stable.

This lack of detailed measurements meant that future changes due to climate variability and glacial melt were not factored into the treaty’s design, nor were factors such as groundwater depletion, water pollution from pesticides, fertilizer use and industrial waste. Similarly, the potential for large-scale hydraulic development of the region through dams, reservoirs, canals and hydroelectricity were largely ignored in the treaty.

Reflecting contemporary assumptions about the stability of glaciers, the negotiators assumed that hydrological patterns would remain persistent with the historic flows.

Instead, the glaciers feeding the Indus Basin began to melt. In fact, they are now melting at record rates.

Construction site of the Diamer-Bhasha Dam along the Indus River.
Fazlul Haq/Indus Basin Water Project/Ohio State University

The World Meteorological Organization reported that 2023 was globally the driest year in over three decades, with below-normal river flows disrupting agriculture and ecosystems. Global glaciers also saw their largest mass loss in 50 years, releasing over 600 gigatons of water into rivers and oceans.

The Himalayan glaciers, which supply 60-70% of the Indus River’s summer flow, are shrinking rapidly. A 2019 study estimates they are losing 8 billion tons of ice annually.

And a study by the International Center for Integrated Mountain Development found that Hindu Kush-Karakoram-Himalayan glaciers melted 65% faster in 2011–2020 compared with the previous decade.

The rate of glacier melt poses a significant challenge to the treaty’s long-term effectiveness to ensure essential water for all the people who rely on the Indus River Basin. While it may temporarily increase river flow, it threatens the long-term availability of water.

Indeed, if this trend continues, water shortages will intensify, particularly for Pakistan, which depends heavily on the Indus during dry seasons.

Another failing of the Indus Waters Treaty is that it only addresses surface water distribution and does not include provisions for managing groundwater extraction, which has become a significant issue in both India and Pakistan.

In the Punjab region – often referred to as the breadbasket of both nations – heavy reliance on groundwater is leading to overexploitation and depletion.

Groundwater now contributes a large portion – about 48% – of water withdrawals in the Indus Basin, particularly during dry seasons. Yet there is no transboundary framework to oversee the shared management of this resource as reported by the World Bank.

A disputed region

It wasn’t just climate change and groundwater that were ignored by the drafters of the Indus Waters Treaty. Indian and Pakistan negotiators also neglected the issue and status of Kashmir.

Kashmir has been at the heart of India-Pakistan tensions since Partition in 1947. At the time of independence, the princely state of Jammu and Kashmir was given the option to accede to either India or Pakistan. Though the region had a Muslim majority, the Hindu ruler chose to accede to India, triggering the first India-Pakistan war.

This led to a U.N.-mediated ceasefire in 1949 and the creation of the Line of Control, effectively dividing the territory between Indian-administered and Pakistani-administered Kashmir. Since then, Kashmir has remained a disputed territory, claimed in full by both countries and serving as the flashpoint for two additional wars in 1965 and 1999, and numerous skirmishes.

A ruined village in Jammu and Kashmir, India, during the war between India and Pakistan in 1965.
Hulton-Deutsch Collection/Corbis via Getty Images

Despite being the primary source of water for the basin, Kashmiris have had no role in negotiations or decision-making under the treaty.

The region’s agricultural and hydropower potential has been limited due to restrictions on the use of its water resources, with only 19.8% of hydropower potential utilized. This means that Kashmiris on both sides — despite living in a water-rich region — have been unable to fully benefit from the resources flowing through their land, as water infrastructure has primarily served downstream users and broader national interests rather than local development.

Some scholars argue that the treaty intentionally facilitated hydraulic development in Jammu and Kashmir, but not necessarily in ways that served local interests.

India’s hydropower projects in Kashmir — such as the Baglihar and Kishanganga dams — have been a major point of contention. Pakistan has repeatedly raised concerns that these projects could alter water flows, particularly during crucial agricultural seasons.

However, the Indus Waters Treaty does not provide explicit mechanisms for resolving such regional disputes, leaving Kashmir’s hydrological and political concerns unaddressed.

Tensions over hydropower projects in Kashmir were bringing India and Pakistan toward diplomatic deadlock long before the recent attack.

The Kishanganga and Ratle dam disputes, now under arbitration in The Hague, exposed the treaty’s growing inability to manage transboundary water conflicts.

Then in September 2024, India formally called for a review of the Indus Waters Treaty, citing demographic shifts, energy needs and security concerns over Kashmir.

Indian Border Security Force soldiers patrol on a boat along the Pargwal area of the India-Pakistan international border.
Nitin Kanotra/Hindustan Times via Getty Images

The treaty now exists in a state of limbo. While it technically remains in force, India’s formal notice for review has introduced uncertainty, halting key cooperative mechanisms and casting doubt on the treaty’s long-term durability.

An equitable and sustainable treaty?

Moving forward, I argue, any reform or renegotiation of the Indus Waters Treaty will, if it is to have lasting success, need to acknowledge the hydrological significance of Kashmir while engaging voices from across the region.

Excluding Kashmir from future discussions – and neither India nor Pakistan has formally proposed including Kashmiri stakeholders – would only reinforce a long-standing pattern of marginalization, where decisions about its resources are made without considering the needs of its people.

As debates on “climate-proofing” the treaty continue, ensuring Kashmiri perspectives are included will be critical for building a more equitable and sustainable transboundary water framework.

Nicholas Breyfogle, Madhumita Dutta, Alexander Thompson, and Bryan G. Mark at the Indus Basin Water Project at the Ohio State University contributed to this article.

Fazlul Haq does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Tensions over Kashmir and a warming planet have placed the Indus Waters Treaty on life support – https://theconversation.com/tensions-over-kashmir-and-a-warming-planet-have-placed-the-indus-waters-treaty-on-life-support-244699

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI United Kingdom: International agreement to boost British business
Source: United Kingdom – Executive Government & Departments

Press release

International agreement to boost British business

Businesses will save time and money on repetitive legal action thanks to new international rules coming into force across the UK on 1 July.
Agreement will cut delays and costs for UK businesses

UK judgments against foreign suppliers will be recognised by participating countries overseas

This will boost the UK legal sector and drive economic growth, part of the government’s Plan for Change

Businesses will save time and money on repetitive legal action thanks to new international rules coming into force across the UK on 1 July.

The UK Government signed up to the Hague 2019 Convention, which means other countries will more easily recognise and enforce UK court judgments in cross-border disputes – sparing firms from costly and repetitive court battles.

Currently, if a UK business wins a case in a UK court against a company based in another country, business leaders face the threat of time-consuming enforcement processes or even identical legal action overseas for the same dispute – causing delays, increasing costs and creating confusion to the consumer.

The new rules will provide a simpler enforcement route to existing complex systems, giving one clear consistent set of shared rules – that the UK helped shape – making the process easier for everyone.

Streamlining the process will save businesses time and money, encourage foreign companies to use the UK’s world-class lawyers and courts to settle their disputes and grow the economy overall.

Justice Minister, Lord Ponsonby, said:

This Convention delivers real benefits for British businesses dealing with international disputes.

As part of our Plan for Change we’re boosting UK firms’ confidence to trade by minimising legal costs and ensuring justice across borders, all while cementing Britain’s role as a global legal powerhouse committed to the rule of law.

The Convention will enhance international legal collaboration. It will apply to judgments in civil and commercial matters, strengthening the UK’s position as a global hub for dispute resolution.

The 2019 Hague Convention is already being applied by 29 parties, from Ukraine to EU countries, with Uruguay joining last year. This means UK civil and commercial judgments will be recognised and enforced in these nations and that the UK will recognise judgments made in their courts.

With 91 members of the Hague Conference on Private International Law (HCCH), a major multilateral forum for private international law rules which has produced numerous conventions including the 2019 Hague Convention, Hague 2019 has a potentially global reach.

The Convention will apply to judgments given in proceedings that commence on or after 1 July 2025 across the entire United Kingdom or in other participating countries.

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Published 25 April 2025
MIL OSI United Kingdom –
April 26, 2025
MIL-OSI Global: Trump can’t decide who to blame for a failing peace deal that would only lead to further conflict

Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

After a second consecutive night of deadly Russian air attacks – against the capital Kyiv on April 23 and the eastern Ukrainian city of Pavlohrad on April 24 – a ceasefire in Ukraine seems as unrealistic as ever.

With Russian commitment to a deal clearly lacking, the situation is not helped by US president Donald Trump. He can’t quite seem to decide who he will ultimately blame if his efforts to agree a ceasefire fall apart.

Before the strikes on Kyiv, Trump blamed Ukrainian president, Volodymyr Zelensky, for holding up a deal by refusing to recognise Crimea as Russian. The following day, he chided Vladimir Putin for the attacks, calling them “not necessary, and very bad timing” and imploring Putin to stop.

The main stumbling bloc on the path to a ceasefire is what a final peace agreement might look like and what concessions Kyiv – and its European allies – will accept. Ukraine’s and Europe’s position on this is unequivocal: no recognition of the illegal Russian annexation.

This position is also backed by opinion polls in Ukraine, which indicate only limited support for some, temporary concessions to Russia. The mayor of Kyiv, Vitali Klitschko, also suggested that temporarily giving up territory “can be a solution”.

The deal that Trump’s envoy Steve Witkoff apparently negotiated over three rounds of talks in Russia was roundly rejected by Ukraine and Britain, France and Germany, who lead the “coalition of the willing” of countries pledging support for Ukraine.

Read more:
Could Trump be leading the world into recession?

This prompted Witkoff and US secretary of state Marco Rubio to pull out of follow-up talks in London on April 24. These ended with a fairly vacuous statement about a commitment to continuing “close coordination and … further talks soon”.

And even this now appears as quite a stretch. Coinciding with Witkoff’s fourth trip to see Putin on April 25, European and Ukrainian counterproposals were released that reject most of the terms offered by Trump or at least defer their negotiation until after a ceasefire is in place.

Why is it failing?

The impasse is unsurprising. Washington’s proposal included a US commitment to recognise Crimea as Russian, a promise that Ukraine would not join Nato and accept Moscow’s control of the territories in eastern Ukraine that it currently illegally occupies. It also included lifting all sanctions against Russia.

In other words, Ukraine would give up large parts of territory and receive no security guarantees, while Russia is rewarded with reintegration into the global economy.

It is the territorial concessions asked of Kyiv which are especially problematic. Quite apart from the fact that they are in fundamental breach of basic principles of international law – the sovereignty and territorial integrity of states – they are unlikely to provide solid foundations for a durable peace.

Much like the idea of Trump’s Ukraine envoy, Keith Kellogg, to divide Ukraine like post-1945 Berlin, it betrays a fundamental misunderstanding of what, and who, drives this war.

Recent London peace talks in April failed to make progress.

Kellogg later clarified that he was not suggesting a partition of Ukraine, but his proposal would have exactly the same effect as Trump’s most recent offer.

Both proposals accept the permanent loss to Ukraine of territory that Russia currently controls. Where they differ is that Kellogg wants to introduce a European-led reassurance force west of the river Dnipro, while leaving the defence of remaining Ukrainian-controlled territory to Kyiv’s armed forces.

If accepted by Russia – unlikely as this is given Russia’s repeated and unequivocal rejection of European peacekeeping troops in Ukraine – it would provide at best a minimal security guarantee for a part of Ukrainian territory.

What it would almost inevitably mean, however, is a repeat of the permanent ceasefire violations along the disengagement zone in eastern Ukraine where Russian and Ukrainian forces would continue to face each other.

This is what happened after the ill-fated Minsk accords of 2014 and 2015, which were meant to settle the conflict after Russia’s invasion of Donbas in 2014. A further Russian invasion could be just around the corner once the Kremlin felt that it had sufficiently recovered from the current war.

Read more:
Ukraine deal: Europe has learned from the failed 2015 Minsk accords with Putin. Trump has not

The lack of a credible deterrent is one key difference between the situation in Ukraine as envisaged by Washington and other historical and contemporary parallels, including Korea and Cyprus.

Korea was partitioned in 1945 and has been protected by a large US military presence since the Korean war in 1953. After the Turkish invasion of 1974, Cyprus was divided between Greek and Turkish Cypriots along a partition line secured by an armed UN peacekeeping mission.

Trump has ruled out any US troop commitment as part of securing a ceasefire in Ukraine. And the idea of a UN force in Ukraine, briefly floated during the presidency of Petro Poroshenko between 2014 and 2019, never got any traction, and is not likely to be accepted by Putin now.

The assumed parallels with the situation in Germany after the second world war are even more tenuous. Not only did Nazi Germany unconditionally surrender in May 1945 but its division into allied zones of occupation was formally and unanimously agreed by the victorious allies in Potsdam in August 1945.

Muddling up Potsdam and Munich?

By the time two separate German states of East and West Germany were established in 1949, the western allies had fallen out with Stalin but remained firmly united in Nato and western Europe. So the west German state was firmly protected under the US nuclear umbrella.

The agreements made in Potsdam didn’t have the same implication of permanence as the US suggestion to formally recognise Crimea as Russian territory. The suggestion was always that the allied forces would pull out of Germany at some stage, and restore the country’s sovereignty.

Most importantly, the allies did not reward the aggressor in the war or create the conditions for merely a brief interruption for an aggressor’s revisionist agenda.

After all, what has driven Putin’s war against Ukraine is his conviction that “the collapse of the Soviet Union was the greatest geopolitical catastrophe of the century”.

The Trump administration deludes itself that it is applying the lessons of Potsdam by recognising Russia’s territorial conquests in Ukraine and handing them over. Instead it is falling into the trap of the 1938 Munich Agreement. Negotiators in Munich tried, but failed, to avoid the second world war by appeasing and not deterring an insatiable aggressor – a historical lesson that doesn’t need repeating.

Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

Tetyana Malyarenko does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Trump can’t decide who to blame for a failing peace deal that would only lead to further conflict – https://theconversation.com/trump-cant-decide-who-to-blame-for-a-failing-peace-deal-that-would-only-lead-to-further-conflict-254841

MIL OSI – Global Reports –

April 26, 2025
MIL-OSI USA: April 24th, 2025 Heinrich, Colleagues Demand Trump Reverse Attacks on AmeriCorps

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich

WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.), Vice Chair of the bipartisan National Service Caucus and the first AmeriCorps alum to serve in the United States Senate, U.S. Senator Chris Coons (D-Del.), Co-Chair of the bipartisan National Service Caucus, and U.S. Senator Chuck Schumer (D-N.Y.) led 147 of their colleagues in the Senate and House of Representatives to demand President Trump reverse his recall on NCCC AmeriCorps members and drastic reductions in force across the AmeriCorps agency.

For more than 30 years, AmeriCorps has been our nation’s leading provider of grants that support and promote national service and volunteerism. AmeriCorps members and AmeriCorps Seniors volunteers are preparing today’s students for tomorrow’s jobs, connecting veterans to services, fighting the opioid epidemic, helping older adults age with dignity, rebuilding communities after disasters, and improving the physical and mental well-being of Americans nationwide.

Last year alone in New Mexico, more than 4,500 Americans of all ages and backgrounds united to meet local needs, strengthen communities, and expand opportunity through national service. AmeriCorps invested more than $12.2 million in federal funding to support cost-effective community solutions, working hand in hand with local partners to empower individuals to help communities tackle their toughest challenges. Learn more about AmeriCorps’ impact on New Mexico here.

“We are deeply concerned these actions will prevent the agency from continuing to deliver critical services, which include supporting veterans, fighting wildfires, tutoring in schools, combatting the fentanyl epidemic, and much more,” the senators wrote in their letter to President Donald Trump.

Federal investments in AmeriCorps have delivered positive returns for the American people. A 2020 study found that for every one dollar that Congress appropriates to AmeriCorps and AmeriCorps Seniors programs, they return over $17 in benefits to society, program members, and the government. Furthermore, AmeriCorps service allows members to gain marketable job skills in high-demand fields and pursue higher education, preparing more Americans to succeed in the workforce.

The lawmakers concluded the letter by highlighting the devastating impacts Trump’s cuts to AmeriCorps will have on New Mexicans and hardworking people across the country, “Delays will disrupt programs Americans rely on for their health, education, and safety…We urge you to reverse these actions and instead work with Congress on bipartisan improvements to AmeriCorps so that more Americans have the opportunity to serve their communities,” the lawmakers concluded.

The letter is here and below:

Dear President Trump:

We write to express our strong support for AmeriCorps and urge you to reverse both the recall of all NCCC AmeriCorps members and the recently implemented drastic reductions in force across the AmeriCorps agency. We are deeply concerned these actions will prevent the agency from continuing to deliver critical services, which include supporting veterans, fighting wildfires, tutoring in schools, combatting the fentanyl epidemic, and much more.

For more than thirty years, AmeriCorps has been our nation’s leading provider of grants that support and promote national service and volunteerism. Through programs like AmeriCorps and AmeriCorps Seniors, more than 200,000 Americans participate in results-driven service projects at more than 35,000 locations across the country each year. Working hand in hand with thousands of nonprofit, faith-based, and community organizations, these dedicated Americans recruit and manage millions of additional volunteers as they work to promote employment

opportunities, prepare a better-trained workforce, and provide essential services to veterans, children, and seniors. AmeriCorps’ track record of delivering for Americans has earned broad and longstanding support from business leaders, mayors, and governors of both parties.

AmeriCorps is a public-private partnership that leverages approximately $1 billion in matched resources from the private sector, foundations, and local agencies to support organizations across the country working in creative ways to tackle our most persistent and costly challenges. While it is important the agency continues to make measurable progress toward an improved audit performance, federal investments in AmeriCorps already deliver returns for the American people. A 2020 study found that for every one dollar that Congress appropriates to AmeriCorps and AmeriCorps Seniors programs, they return over $17 in benefits to society, program members, and the government. Further, the AmeriCorps programs are a smart investment in our country’s future. AmeriCorps service allows members to gain marketable job skills in high-demand fields and pursue higher education, preparing more Americans to succeed in the workforce.

We have seen firsthand the critical impact these programs have across the states we represent. We urge the administration to continue implementing the statutory requirements of the national service laws:

Additionally, Congress recently passed the Full-Year Continuing Appropriations and Extensions Act of 2025, which maintained funding for AmeriCorps at its Fiscal Year 2024 level. We expect that the administration will implement this law in a manner consistent with the allocations enacted in Fiscal Year 2024. However, we have grave concerns that significant reductions in force will prevent AmeriCorps from being able to effectively and efficiently award appropriated funding to programs operating in communities across the country.

We are deeply concerned by reports that a majority of AmeriCorps staff have been placed on administrative leave and that more than 750 NCCC members have already been recalled from their field assignments. Many of these volunteers were working in disaster response roles, including building homes for individuals who lost theirs in the wake of Hurricanes Helene and Milton. If not reversed, these recent actions will both stop current programs and prevent timely and efficient execution of the agency’s fiscal year 2025 appropriations, delaying or even halting the recruitment and deployment of new AmeriCorps members around the country. We are deeply concerned that is the goal: to eliminate AmeriCorps, in direct conflict with recently enacted appropriations. However, even delays will disrupt programs Americans rely on for their health, education, and safety. We urge you to reverse these actions and instead work with Congress on bipartisan improvements to AmeriCorps so that more Americans have the opportunity to serve their communities.

Sincerely,

MIL OSI USA News –

April 26, 2025
MIL-OSI Canada: Construction begins on centre for children with health complexity

Source: Government of Canada regional news

Children and youth with complex care needs throughout B.C are closer to having access to a dedicated BC Children’s Hospital facility, as construction is now underway.

“We recognize that children with complex care needs and their families require support that goes beyond what a hospital or clinic provide,” said Bowinn Ma, Minister of Infrastructure. “With the new centre for health complexity, we’re delivering essential health-care infrastructure to support children throughout British Columbia with the most complex needs, while helping them and their families feel connected, understood and empowered throughout their care journey.”

Children and youth living with health complexity often require specialized services, technology and support from multiple health-care providers as part of their daily care. This can make navigating the health-care system challenging for patients, families and caregivers.

A first of its kind in Canada, the new three-storey BC Children’s Hospital centre for health complexity will offer in-person and virtual care for children and youth in B.C. and the Yukon. The centre will connect people with appropriate services and provide specialized training and education for families, caregivers and health-care professionals. This will save families travel time and streamline care.

“By providing specialized care for children with complex health needs, we are improving the quality of life for families and setting a standard of care that ensures children receive the care they need,” said Josie Osborne, Minister of Health. “This transformative centre will be purpose-built for children with health complexity to the highest accessibility standards, and I’m thrilled to celebrate another project milestone.”

The centre will include 16 dedicated suites where children and families can reside for short, planned stays to access the centre’s services. Recognizing the demands complex care can take on family members and caregivers, the centre will also offer wellness, counselling and peer support.

The project team has been working closely with patient and caregiver partners, clinical and operational staff, and the BC Children’s and BC Women’s hospitals’ Indigenous Health team on planning the new centre. The facility will include an Indigenous healing garden, extensive green space, a teaching kitchen, public art and accessible wellness path that makes outdoor areas easy to navigate with a variety of mobility devices.

“I often wonder how much easier and smoother our journey would have been if we got the proper tools and training to empower us to take care of our son with medical complexities 19 years ago,” said Ani Khoudian, a member of the patient and caregiver advisory committee for the new centre. “This is why our family supports the new centre for health complexity. The new centre will ensure patients and families get proper training, have access to care co-ordination, and learn to navigate health care, which are crucial services to improving children’s and families’ quality of life and well being.”

The centre will also include a 74-space child care facility in its own building. It will be managed by a licensed child care operator. Both the child care centre and the green space will be open to families in the local community.

Completion is expected by December 2027 with the centre scheduled to open in early 2028.

“A centre such as this will support the important needs that children and youth with complex and chronic health conditions deserve,” said Adrian Dix, MLA for Vancouver-Renfrew. “This is a critical step for improving health care and making it more accessible for families in our communities.”

Since 2017, work has been completed or is underway to plan, build or upgrade more than 30 hospitals or health facilities, in addition to the hundreds of maintenance and renovation projects to keep health-care facilities safe and welcoming.

Quotes:

Sarah Bell, chief operating officer, BC Children’s Hospital –

“I can’t underscore the impact this centre will have on the lives of children, families and caregivers. Behind its walls, people will be supported and empowered to live a higher quality of life centred around the care and well-being of both the child and their family. This model of care will also pave the way as a blueprint for other jurisdictions nationally and internationally, to enhance the care provided to children with medical complexity and their families.”

Malcolm Berry, president and CEO, BC Children’s Hospital Foundation –

“As we celebrate this groundbreaking milestone, we recognize the possibilities that are enabled through strong partnerships. When visionary medical experts, committed government leaders and generous donors come together, it creates a powerful catalyst for change. We are profoundly grateful to the visionary partners who have already stepped forward to support this first-of-its-kind facility. Through the continued generosity of our community to reach our $40-million commitment, we will redefine what’s possible for children and families for generations to come.”

Learn More:

For information about the BC Children’s Hospital centre for health complexity:
https://www.bcchildrens.ca/about/slocan

For more information about health capital projects in B.C., visit:
https://www2.gov.bc.ca/gov/content/health/accessing-health-care/capital-projects

MIL OSI Canada News –

April 26, 2025
MIL-OSI Canada: Celebrating our Volunteers During National Volunteer Week

Source: Government of Canada regional news

Released on April 25, 2025

The Government of Saskatchewan, along with Sask Sport, SaskCulture and the Saskatchewan Parks and Recreation Association would like to recognize our province’s volunteers and thank them for the incredible contributions they make to our quality of life.

Across the country, April 27 to May 3 is being celebrated as National Volunteer Week.

“Volunteers are hard-working and humble individuals who come from diverse backgrounds, motivated by the simple desire to make our communities better,” Parks, Culture and Sport Minister Alana Ross said. “In the sport, culture and recreation world, we know them as coaches, instructors, leaders, board members, event planners, teachers, officials, caretakers and so much more.”

This year’s theme of Volunteers Make Waves – Together, we create ripples of change – helps highlight the importance, impact and power individuals and their collective volunteer efforts can have on our lives.

Saskatchewan is home to more than 330,000 residents who volunteer in their communities.

“We know the amazing talents these volunteers bring to our communities and that each individual volunteer contribution, big or small, has the power to influence and inspire, positive change,” Ross said. “On behalf of the Government of Saskatchewan I would like to thank those people who put in the countless hours to make our lives better.”

One major source for volunteer opportunities is through the Saskatchewan Lotteries Trust Fund for Sport, Culture and Recreation, which provides more than 1,200 organizations and communities with direct funding. In turn, this funding reaches approximately 12,000 beneficiary groups and a remarkable 600,000 participants across the province each year.

Volunteers help make the thousands of community events and activities held by these organizations each year successful.

If you are looking for opportunities to volunteer in Saskatchewan, visit: Volunteer Connector.

Visit Our Stories to learn about some amazing volunteers and their contributions to sport, culture and recreation in Saskatchewan at https://www.saskatchewan.ca/government/our-stories.

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For more information, contact:

MIL OSI Canada News –

April 26, 2025
MIL-OSI Canada: Premier Houston to Invite Investments in Offshore Wind at International Conference
Source: Government of Canada regional news

Premier Tim Houston will promote opportunities to invest in Nova Scotia’s growing wind energy sector at the largest offshore wind and ocean renewables conference in the Americas next week.

The Premier will be a keynote speaker at Oceantic Network’s 2025 International Partnering Forum, which runs from April 28 to May 1 in Virginia Beach, Virginia. Thousands of professionals and industry experts from around the world are expected to attend.

“Nova Scotia is open for business, and there are countless opportunities for us to be more self-reliant and grow our economy in key areas like wind energy,” said Premier Houston. “We’re blessed with incredible onshore and offshore wind speeds that we can use to our advantage with partners who invest in our wind sector, provide good-paying jobs for hard-working Nova Scotians, and deliver clean energy that can create export opportunities and power our domestic needs.”

During the conference, Premier Houston will share insights into Nova Scotia’s vision for offshore wind, showcase the success of existing cross-border partnerships and collaborations, and reinforce the importance of a strong U.S.-Canada relationship to build both countries’ offshore wind markets.

Globally, offshore wind is one of the fastest-growing energy sources. Nova Scotia also has some of the best, consistently fast wind speeds in the world. The province sits on a large continental shelf with vast areas of relatively shallow water that are ideal for floating and fixed wind platforms.

Nova Scotia plans to offer licences for five gigawatts of offshore wind energy by 2030. The first call for bids will open later this year.

Nova Scotia is currently focused on making the province more self-reliant by investing in wind resources, critical minerals and the seafood sector. The Province is also developing a comprehensive trade action plan to facilitate internal trade, enhance productivity and drive critical sectors with input from businesses and industry.

Quotes:

“The International Partnering Forum may have been born in the U.S., but it knows no geopolitical boundaries. If one market closes, we open others. We are proud to welcome Premier Houston to showcase Nova Scotia’s vision for offshore wind, which will attract the investment and partnerships others are pushing away. Cross-border partnerships like these are already delivering results and will be critical to the development of our supply chains, developers, and our shared energy future.”
— Liz Burdock, President and CEO, Oceantic Network

Quick Facts:
- Nova Scotia’s offshore wind sector is projected to be a $4.6-billion industry within seven years
- it will support the province’s budding green hydrogen sector and has the potential to make Nova Scotia a net exporter of clean energy
- the conference focuses on transforming the offshore clean energy industry through collaboration and innovation
- delegates attending the conference include Premier Houston; Chief of Staff and General Counsel Nicole LaFosse Parker; and Kim Doane, Executive Director, Energy Resource Development, Department of Energy
Additional Resources:

Nova Scotia offshore wind: https://novascotia.ca/offshore-wind/

Oceantic Network 2025 International Partnering Forum: https://oceantic.org/oceantic-event/2025-ipf/

More information about Oceantic Network is available at: https://oceantic.org/about-us/

Other than cropping, Province of Nova Scotia photos are not to be altered in any way

MIL OSI Canada News –
April 26, 2025
MIL-OSI Canada: Government Makes Personal Care Homes more Affordable for Seniors

Source: Government of Canada regional news

Released on April 25, 2025

Starting this month, a $10 million investment announced in the 2025-26 Provincial Budget is increasing the Personal Care Home Benefit by up to $1,000 per month, helping make the cost of living in a licensed personal care home more affordable for Saskatchewan seniors.

“This is the third year in a row our government has increased the Personal Care Home Benefit,” Social Services Minister Terry Jenson said. “It is also the largest increase in the program’s history that will benefit more than 2,000 seniors living in personal care homes.”

As part of the increase to the Personal Care Home Benefit, Saskatchewan Assured Income for Disability (SAID) level-of-care benefits for personal care home residents will also increase by $120 per month.

Since its implementation in 2012, the Personal Care Home Benefit monthly income threshold has increased from $1,800 to $3,500. The Personal Care Home Benefit subsidizes seniors based on the difference between their total monthly income and the $3,500 Personal Care Home Benefit monthly income threshold.

For more information on the Personal Care Home Benefit, visit: Saskatchewan.ca.

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For more information, contact:

Media Relations
Social Services
Regina
Phone: 306-787-3610
Email: mediamss@gov.sk.ca

MIL OSI Canada News –

April 26, 2025
MIL-OSI Canada: New Pictou County Child-Care Spaces
Source: Government of Canada regional news

Families in Plymouth, Pictou County, will have more access to early learning and child-care spaces opening in their community.

The Province is providing the Plymouth Community and Recreation Association with $3.1 million in infrastructure funding for a renovation and addition to the Plymouth Community Centre that will allow the creation of 58 early learning spaces, including 16 infant spaces.

“Investments in child care are investments in families and in our future,” said Premier Tim Houston. “I’m pleased that our government is supporting the community centre to continue its legacy of helping young people and families by adding new child-care spaces.”

The building has a long history educating and caring for young people in the community. It was first built as a school in 1865 and was converted to a community centre in the 1970s.

The community centre will continue to offer community gathering and recreational space once the child-care centre opens in February 2026.

The investment is from the Early Learning and Child Care Major Infrastructure Program.

Quotes:

“The board of the Plymouth Community and Recreation Association embraced this idea from its inception. This is a game-changer for our rural communities. Our building was purposely built as a school and is centrally located for young families to access. This is a community-based response to the pressing need for affordable and accessible child care.”
— Janet MacDonald, board Chair, Plymouth Community and Recreation Association

“This initiative expands access to sustainable child care, addressing a key barrier to workforce development in Pictou County. Through strong community collaboration and the partnership’s community impact programming made possible by the Sobey Foundation, it will empower families, support local employment and serve as a unique co-operative model for the future.”
— Mary Ellen Makhlouf, community impact programming lead, Pictou County Partnership

Quick Facts:
- funding is through the Canada-Nova Scotia Canada-Wide Early Learning and Child Care Agreement
- to date, the government has announced 11 projects under the major infrastructure pro-gram
- since 2021, almost 7,000 new child-care spaces have been created across the province
- Nova Scotia has signed a five-year extension to the Canada-Nova Scotia Canada-Wide Early Learning and Child Care Agreement and the Canada-Nova Scotia Early Learning and Child Care Agreement, worth more than $1 billion total
Additional Resources:

More information on early learning and child care in Nova Scotia: https://childcarenovascotia.ca/

Canada-Nova Scotia Canada-Wide Early Learning and Child Care Agreement: https://www.canada.ca/en/early-learning-child-care-agreement/agreements-provinces-territories/nova-scotia-canada-wide-2021.html

To receive regular updates about child care in Nova Scotia via newsletter: https://childcarenovascotia.ca/latest-news

For information on child-care centres and family home agencies by community: https://nsbr-online-services.novascotia.ca/DCSOnline/ECDS/loadSearchPage.action

Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

MIL OSI Canada News –
April 26, 2025
MIL-OSI USA: Governor Stein Appeals FEMA Decision to Not Renew 100% Match

Source: US State of North Carolina

Headline: Governor Stein Appeals FEMA Decision to Not Renew 100% Match

Governor Stein Appeals FEMA Decision to Not Renew 100% Match
lsaito
Fri, 04/25/2025 – 12:09

Raleigh, NC

Governor Stein today appealed to President Trump, asking him to overturn FEMA’s decision not to extend its 100 percent match for eligible Helene costs.

“Hurricane Helene caused incredible damage to western North Carolina. President Trump, as you noted when you visited the region in January, we need a focus on debris removal to create a clean slate from which we can effectively rebuild,” wrote Governor Josh Stein. “I therefore respectfully urge you to reconsider FEMA’s regretful decision and extend our 100 percent cost share period for six months – failing that, then for three months. Doing so would allow us to continue to build on the momentum you have helped us achieve.”

Without the extension, FEMA’s match drops to 90 percent. Preliminary estimates have projected a cost to the state of up to $200 million.

In December, Congress appropriated disaster relief funds in the American Relief Act of 2025. In February, Governor Stein requested North Carolina’s allocations be expedited. Most federal agencies still have yet to announce North Carolina’s allocations. Governor Stein has also requested Congress and the Administration to appropriate an additional $11.6 billion in federal disaster relief funds to support home rebuilding, restore critical infrastructure, keep businesses open, shore up local governments, and reduce impacts from future natural disasters.

Read Governor Stein’s full letter.

Apr 25, 2025

MIL OSI USA News –

April 26, 2025
MIL-OSI Security: FBI Sees Increase of Government Impersonation Scams Targeting South Florida Residents

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

MIAMI—The FBI Miami Field Office is aware of a recent increase of scam attempts targeting South Florida residents. Callers identify themselves as a federal officer and typically instruct people to wire or mail “settlement” money or to assist law enforcement with an investigation against a bank. These calls are fraudulent, and call recipients should hang up immediately. Federal agencies do not call or email individuals threatening them to send money or to use their personal money as “bait” for a federal investigation.

There are many versions of this government impersonation scam, but they are all variations of the same tactic. This type of scam has been around for years and targets people across the nation.

“Criminals use law enforcement impersonation scams as a means of confusing and unnerving their intended victims in order to get them to act rashly,” said Supervisory Special Agent Michael Brown. “If you receive one of these calls, hang up, and report the incident to the FBI’s Internet Crime Complaint Center (IC3.GOV). In the 2024 IC3 report released this week, Florida residents reported 1,579 impersonation scams with an estimated loss of over $12 million.”

In addition, a scam phone call may seem legitimate because scammers can spoof caller ID information. It may appear the call is coming from a federal agency’s legitimate phone number or from Washington, D.C., or may show the name of a federal agency.

To protect yourself from falling victim to this scam, be wary of answering phone calls from numbers you do not recognize. Do not send money to anybody that you do not personally know and trust. Never give out your personal information, including banking information.

Anyone who feels they were the victim of this, or any other online scam should report the incident immediately at ic3.gov. More information about government impersonation schemes and other online fraud schemes can be found at https://www.fbi.gov/scams-and-safety/common-fraud-schemes.

For the latest annual report from the Internet Crime Complaint Center go here: https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

MIL Security OSI –

April 26, 2025
MIL-OSI Russia: Financial news: 04/25/2025 Changes in the parameters of the second deposit auction of the Federal Treasury

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

Application selection parameters:

Application selection date 25.04.2025. Unique application selection identifier 22025104. Deposit currency – rubles. Type of funds – funds of a single treasury account. Maximum amount of funds placed on bank deposits, million monetary units 450,000. Placement term, in days 4. Date of depositing funds 25.04.2025. Date of return of funds 29.04.2025. Interest rate for placing funds (fixed or floating) FIXED. Minimum fixed interest rate for placing funds, % per annum 20.05. Basic floating interest rate for placing funds-Minimum spread, % per annum-Terms of concluding a bank deposit agreement (fixed-term, replenishable or special) Fixed-term. Minimum amount of funds placed for one application, million monetary units 1,000. Maximum number of applications from one credit institution, pcs. 5. Application selection form (open or closed)Open. Application selection schedule (Moscow time). Place of application selection Moscow Exchange PJSC.

Acceptance of applications from 18:30 to 18:40. Applications in preliminary mode from 18:30 to 18:35. Applications in competition mode from 18:35 to 18:40. Formation of a consolidated register of applications from 18:40 to 18:50. Setting the cutoff interest rate and (or) recognizing the selection of applications as unsuccessful from 18:40 to 18:50. Sending an offer to credit institutions to conclude a bank deposit agreement from 18:50 to 19:30. Receipt from credit institutions of acceptance of the offer to conclude a bank deposit agreement from 18:50 to 19:30. Deposit transfer time – In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 27.04.2023 No. 10n.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.MO/N89826

MIL OSI Russia News –

April 26, 2025
MIL-OSI USA: In Wake of Severe Storms Pummeling Michigan, Stevens Introduces Bill to Help Families and Small Businesses Weather Prolonged Power Outages
Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

Washington, D.C. – Last week, U.S. Representative Haley Stevens (D-MI) introduced the Prolonged Power Outage Relief Act to help families, communities, and small businesses weather the financial fall out of prolonged power outages.

The bill amends the Small Business Act to include prolonged power outages as a basis to declare a federal disaster if more than 25 homes or businesses in a close area are without power for more than 48 hours. Such a declaration would allow those affected to apply for low-interest loans to repair or replace appliances, machinery, or equipment or purchase generators or other alternative power sources to mitigate the impact of future power outages.

“After ice storms and tornadoes swept our state earlier this month, it is more important than ever to make sure Michiganders have the support they need to continue to care for their families,” said Rep. Haley Stevens (D-MI). “That’s why I introduced the Prolonged Power Outage Relief Act, because at a time where prices are on the rise, families and small businesses shouldn’t have to shoulder the cost of power outages alone. Keeping businesses open and families fed is key to ensuring that storms don’t cause long-term financial hardship for Michiganders, and I’m proud to reintroduce this legislation to get the job done.”

“The historic ice storm in northern Michigan, coupled with 10 confirmed tornadoes in the southern and central Lower Peninsula, underscore how the state’s energy customers face growing challenges from increasingly frequent and severe weather brought about by climate change,” said Michigan Public Service Commission Chair Dan Scripps. “We appreciate Congresswoman Stevens’ efforts to ensure Michigan’s residential and business customers have more resources to help them recover and rebuild from the impact of these storms and power outages.”

“I commend Congresswoman Stevens for introducing this crucial bill,” said Farmington Hills Mayor Theresa Rich. “This legislation empowers mayors to declare a disaster when power outages extend beyond 48 hours, providing a lifeline to residents and businesses through low-interest loans. These financial resources can be instrumental in sustaining a business and assisting community members in times of adversity.”

“Power outages often lead to significant losses of product, equipment, and revenue,” said Rifino Valentine, President & Founder, Valentine Distilling Co. “I really appreciate Rep. Stevens’ attention to this issue by introducing solutions that can really help a small manufacturer like us during challenging times.’”

“Prolonged power outages are not just inconveniences – they represent a significant threat to Michigan’s, and the country’s, economy,” said Brad Williams, Vice President of Government Relations for the Chamber. “Every hour of downtime for a manufacturing facility translates to lost production, lost wages, and lost tax revenue. By prioritizing grid modernization and emergency response plans, we can mitigate these risks and ensure that Michigan’s economic engine continues to hum.”

Background:

The Prolonged Power Outage Relief Act amends the Small Business Act to recognize prolonged power outages as a basis for declaring a disaster. In the event of such a declaration, the legislation provides access to various forms of assistance, which include:
- Real Property Disaster Loans: Households can receive up to $500,000 to repair or restore their primary residence to its pre-disaster condition.
- Personal Property Disaster Loans: Homeowners and renters in a declared disaster area are eligible for up to $100,000 to repair or replace personal property, including furniture, appliances, clothing, and automobiles damaged or destroyed in the disaster.
- Physical Disaster Business Loans: Businesses of all sizes, including nonprofits, can access up to $2 million to repair or replace uninsured or underinsured disaster damages to physical property. This covers machinery, equipment, fixtures, inventory, and leasehold improvements.
- Economic Injury Disaster Loans (EIDLs): Small businesses, nonprofit organizations, and small agricultural cooperatives located in a declared disaster area can apply for EIDLs. These loans, amounting to up to $2 million, are aimed at helping entities that have suffered substantial economic injury, are unable to secure credit elsewhere and meet SBA size regulations for being defined as small. EIDL proceeds, limited to working capital, can be used to fulfill financial obligations and operating expenses that would have been met under normal circumstances, allowing the business or organization to recover from the specific economic injury and resume normal operations.
Full text of the legislation can be found here.

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MIL OSI USA News –
April 26, 2025
MIL-OSI Security: Indian Citizen Convicted of Submitting Fraudulent Immigration Application

Source: Office of United States Attorneys

Burlington, Vermont – The United States Attorney for the District of Vermont announced that yesterday, after a two-day trial before United States District Judge Joseph Laplante, a federal jury convicted Nasir Hussain, 31, a citizen of India who had been living in Orlando, Florida, of submitting a false statement of material fact on an immigration application, specifically an I-360 Violence Against Women Act (“VAWA”) self-petition. Immediately following his conviction at trial, Hussain was sentenced to time-served.

Hussain has been in continual federal custody since his arrest in May of 2023 on a wire fraud conspiracy charge. The wire fraud case proceeded to trial in October 2024, resulted in a jury verdict of guilty, which was subsequently set aside by the Court via a judgment of acquittal. The United States has entered a notice of appeal of the judgment of acquittal and that appeal remains pending.

According to court records and evidence presented at trial in the immigration fraud case, Hussain traveled to Connecticut in October of 2021 for the purpose of entering a sham marriage to a United States Citizen. Hussain never saw the woman prior to nor after the date of the wedding. After the wedding, Hussain paid for insurance policies in the name of his “wife,” subscribed to magazines in her name, and ordered merchandise in her name, all to manufacture evidence that Hussain and his “wife” were living together at his Orlando residence. After manufacturing this evidence, Hussain went to an urgent care facility, and falsely claimed he was abused by his “wife.” Hussain thereafter caused the submission of the evidence he had manufactured, along with medical records, to the United States Immigration and Citizenship Office in support of an I-360 VAWA self-petition, claiming he was the spouse of an abusive U.S. citizen with whom he had been cohabitating at his Orlando apartment. The evidence at trial, including testimony of his “wife” and former roommates, established beyond a reasonable doubt that Hussain’s “wife” never lived in Florida as he had claimed, and therefore could never have abused him as he alleged. Had Hussain’s immigration package been successful, he would have been awarded a VAWA visa and potentially Lawful Permanent Residence status in the United States.

Acting United States Attorney Michael P. Drescher praised the investigatory work of the Federal Bureau of Investigation. At trial, Assistant U.S. Attorneys Michelle M. Arra and Jonathan A. Ophardt represented the government. Hussain was represented by Kevin Henry, Esq.

This case is part of Operation Take Back America a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

MIL Security OSI –

April 26, 2025
MIL-OSI United Kingdom: Obecabtagene autoleucel conditionally approved to treat adults with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia
Source: United Kingdom – Executive Government & Departments

Press release

Obecabtagene autoleucel conditionally approved to treat adults with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia

As with all products, the MHRA will keep its safety under close review.
The Medicines and Healthcare products Regulatory Agency (MHRA) has today (25 April 2025) granted a conditional marketing authorisation for the medicine obecabtagene autoleucel (Aucatzyl), a chimeric antigen receptor (CAR) T-cell therapy, to treat adult patients with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia (ALL).

B-cell precursor acute lymphoblastic leukaemia is a type of blood cancer that affects the white blood cells, specifically the B-lymphocytes. In the condition, the bone marrow produces a large number of abnormal, immature B-lymphocytes, often known as blast cells which grow and divide quickly.

For relapsed patients with ALL, it means their leukaemia has returned after a period of improvement or remission following initial treatment, whereas for refractory patients, it means their leukaemia did not respond sufficiently to initial treatment.

Acute lymphoblastic leukaemia is rare, affecting less than 5 in 10,000 people in the UK.

Julian Beach, MHRA Interim Executive Director, Healthcare Quality and Access, said:

“Keeping patients safe and enabling their access to high quality, safe and effective medical products are key priorities for us.

“We are committed to making innovative treatment options, like CAR T-cell therapy, available to patients as quickly as possible, ensuring our approval is underpinned by robust evidence of efficacy alongside the highest standards of safety. We are assured that the appropriate regulatory standards for the approval of this medicine have been met.

“As with all products, we will keep the safety of obecabtagene autoleucel under close review.”

The medicine is given as an intravenous (IV) infusion in a clinical setting by a physician with experience in the treatment of haematological malignancies and trained for administration and management of patients treated with this medicine.

Obecabtagene autoleucel is a type of immunotherapy call CAR-T therapy that works by taking a patient’s T cells, a type of white blood cell, and putting them through a process that transforms them into CAR T cells that are able to target the CD19 protein. When put back into the body, these modified cells can recognise and destroy the cancer cells.

This conditional approval is supported by evidence from the FELIX study, an ongoing open-label, single-arm study which enrolled 153 adult patients with relapsed or refractory B cell acute lymphoblastic leukaemia. Of those patients, 94 were administered at least one infusion of obecabtagene autoleucel.

Prognosis for patients with relapsed or refractory B cell acute lymphoblastic leukaemia is typically poor with short overall survival rates reported. In this study, 52 of the 94 patients given the medicine showed complete remission of the disease with an 81% probability of overall survival at 12 months.

The most common side effects of the medicine (which may affect more than 1 in 10 people) include nausea, headache, abnormal brain function, dizziness, fever and low blood pressure. Patients are advised to refer to the Patient Information Leaflet for a full list of side effects.

As with any medicine, the MHRA will keep the safety and effectiveness of obecabtagene autoleucel under close review.

Anyone who suspects they are having a side effect from this medicine are encouraged to talk to their doctor, pharmacist or nurse and report it directly to the Yellow Card scheme, either through the website (https://yellowcard.mhra.gov.uk/) or by searching the Google Play or Apple App stores for MHRA Yellow Card. 

Notes to editors  

The new conditional marketing authorisation was granted on 25 April 2025 to Autolus Therapeutics.

More information can be found in the Summary of Product Characteristics and Patient Information leaflets which will be published on the MHRA Products website  within 7 days of approval.

Obecabtagene autoleucel (Aucatzyl) has been conditionally approved through the national assessment procedure.

A conditional marketing authorisation (CMA) is an early temporary licence in which we may accept less completed clinical studies than would be necessary to issue a full marketing authorisation, provided the manufacturer clearly indicates when complete clinical data will be available. However, CMA post-approval conditions are determined on a case-by-case basis, and don’t have to be limited to providing further clinical data. A CMA lasts for one year and can be renewed annually.

For more information about acute lymphoblastic leukaemia (ALL), visit: https://www.nhs.uk/conditions/acute-lymphoblastic-leukaemia/

The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe.  All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.

The MHRA is an executive agency of the Department of Health and Social Care.

For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651.

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Published 25 April 2025
MIL OSI United Kingdom –
April 26, 2025
MIL-OSI United Kingdom: MOJ response to The Victims’ Commissioner’s report into the Crown Court backlog

Source: United Kingdom – Executive Government & Departments

Correspondence

MOJ response to The Victims’ Commissioner’s report into the Crown Court backlog

The Ministry of Justice’s response to the Victims’ Commissioner’s report into the impact of the Crown Court backlog.

Documents

Ministry of Justice Response to The Victims’ Commissioner’s report into the Crown Court backlog

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This is the Ministry of Justice’s response to The Victims’ Commissioner’s report: Justice delayed: The impact of the Crown Court backlog on victims, victim services and the criminal justice system.

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Published 25 April 2025

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MIL OSI United Kingdom –

April 26, 2025
MIL-OSI Russia: Russian-Tajikistani negotiations

Translation. Region: Russian Federal

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

Mikhail Mishustin held talks with the Prime Minister of the Republic of Tajikistan Kokhir Rasulzoda. The heads of government discussed current issues of Russian-Tajik trade, economic, investment and cultural-humanitarian cooperation.

From the transcript:

M. Mishustin: Good afternoon, dear Mr. Rasulzoda! I am glad to meet you again. Welcome to the Government House of the Russian Federation.

I ask you first of all to convey the kindest words of greetings to the President of Tajikistan, the respected Emomali Sharipovich Rahmon, from the President of the Russian Federation, Vladimir Vladimirovich Putin. I spoke with him on the phone just a few minutes ago, and he expressed the kindest wishes to Tajikistan.

Tajikistan is Russia’s most important ally and strategic partner in Central Asia. Our relations are built on historical friendship and mutual respect between our fraternal peoples.

During the visit of the President of Tajikistan Emomali Sharipovich Rahmon to Russia in March, important agreements were reached on the further development of Russian-Tajik cooperation.

The task of our governments is to strictly implement the agreements and decisions made at the highest level.

Russia ranks first among Tajikistan’s foreign trade partners. In January-February of this year, mutual trade turnover increased by 9% and amounted to 23 billion rubles.

The intergovernmental commission is actively working. On the part of Tajikistan, dear Mr. Rasulzoda, you head it. On our part – Marat Shakirzyanovich Khusnullin. Naturally, we are also in constant contact with you.

We pay priority attention to strengthening interregional cooperation. More than 80 subjects of the Russian Federation are developing direct business ties with Tajikistan. There are many promising joint projects in mechanical engineering, energy, and mining.

We consider it very important to strengthen cooperation in the field of environmental protection. We support Tajikistan’s initiative to preserve high-mountain glaciers in Eurasia.

To be continued…

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

April 26, 2025

Category: Politics

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IMF Communications Department

MEDIA RELATIONS

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A checkered diplomatic past

Donald the dealmaker?

A deal is not a given

A fair solution to water disputes

Impact of melting glaciers

A disputed region

An equitable and sustainable treaty?

International agreement to boost British business

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Why is it failing?

Muddling up Potsdam and Munich?

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Other than cropping, Province of Nova Scotia photos are not to be altered in any way

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Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

Obecabtagene autoleucel conditionally approved to treat adults with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia

Julian Beach, MHRA Interim Executive Director, Healthcare Quality and Access, said:

Notes to editors

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MOJ response to The Victims’ Commissioner’s report into the Crown Court backlog

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Notes to editors  